28,175 Shares in Alphabet Inc. $GOOG Acquired by MidFirst Bank

MidFirst Bank acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 28,175 shares of the information services provider’s stock, valued at approximately $8,841,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. State Street Corp increased its position in Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after purchasing an additional 953,790 shares during the period. J. Stern & Co. LLP increased its position in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Alphabet by 1.6% during the 4th quarter. Morgan Stanley now owns 71,841,419 shares of the information services provider’s stock worth $22,543,838,000 after purchasing an additional 1,132,013 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOG opened at $367.46 on Friday. The firm’s fifty day moving average is $364.31 and its two-hundred day moving average is $331.07. The firm has a market cap of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The firm’s revenue was up 21.8% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOG shares. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. TD Cowen increased their price objective on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is owned by corporate insiders.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.