FineMark National Bank & Trust Has $47.82 Million Stake in Alphabet Inc. $GOOG

FineMark National Bank & Trust boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,599 shares of the information services provider’s stock after acquiring an additional 3,470 shares during the quarter. Alphabet accounts for 1.6% of FineMark National Bank & Trust’s portfolio, making the stock its 13th largest position. FineMark National Bank & Trust’s holdings in Alphabet were worth $47,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley lifted its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Scotiabank set a $336.00 price objective on shares of Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. HSBC reaffirmed a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Finally, Bank of America raised their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Price Performance

NASDAQ:GOOG opened at $284.96 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $294.52. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.86 and a beta of 1.05. The stock’s 50 day moving average price is $259.76 and its two-hundred day moving average price is $211.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the firm earned $2.12 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 189,896 shares of company stock worth $47,653,637. 12.99% of the stock is owned by corporate insiders.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.