Citizens Business Bank Has $9.70 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Citizens Business Bank lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,513 shares of the information services provider’s stock after selling 804 shares during the period. Alphabet makes up approximately 2.0% of Citizens Business Bank’s investment portfolio, making the stock its 10th biggest position. Citizens Business Bank’s holdings in Alphabet were worth $9,704,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Lantz Financial LLC boosted its stake in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC bought a new stake in Alphabet in the second quarter worth about $218,000. Archford Capital Strategies LLC boosted its position in shares of Alphabet by 4.5% during the second quarter. Archford Capital Strategies LLC now owns 32,844 shares of the information services provider’s stock valued at $5,983,000 after buying an additional 1,417 shares during the period. Welch Group LLC boosted its position in shares of Alphabet by 0.7% during the second quarter. Welch Group LLC now owns 53,369 shares of the information services provider’s stock valued at $9,721,000 after buying an additional 353 shares during the period. Finally, Brown Lisle Cummings Inc. grew its stake in shares of Alphabet by 1.6% during the second quarter. Brown Lisle Cummings Inc. now owns 47,515 shares of the information services provider’s stock valued at $8,655,000 after buying an additional 740 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 3.6 %

GOOGL stock opened at $188.40 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The stock has a market capitalization of $2.31 trillion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The firm has a 50 day moving average of $173.46 and a 200 day moving average of $171.09.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Tigress Financial upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,957 shares of company stock valued at $31,358,687. Company insiders own 11.55% of the company’s stock.

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.