NBT Bank N A NY Reduces Alphabet Inc. Stake in Recent Quarter

NBT Bank N A NY has reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.3% during the most recent fourth quarter, as detailed in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 15,173 shares in this period, the bank now owns 167,167 shares of the tech giant's stock. This position represents 2.2% of NBT Bank's investment portfolio, making Alphabet its fifth largest holding. According to the filing, NBT Bank's investment in Alphabet was valued at approximately $31,645,000.

Institutional Shifts in Alphabet Holdings

Several other institutional investors and hedge funds have also adjusted their positions in Alphabet. For instance, Proficio Capital Partners LLC dramatically increased its position in the company by a staggering 20,990.0% during the fourth quarter. The firm now holds 6,186,748 shares, valued at around $1.17 billion, after purchasing an additional 6,157,413 shares during this time. Amundi has also increased its investment, raising its position by 18.7% and now owns 29,866,698 shares worth about $5.79 billion after acquiring 4,694,621 more shares. Additionally, JPMorgan Chase & Co. increased its stake by 7.7% in the previous quarter, owning 63,667,407 shares valued at $10.56 billion. New positions were also entered by B. Metzler seel. Sohn & Co. Holding AG, purchasing stock worth approximately $513 million. Geode Capital Management LLC slightly raised its holdings by 2.0%, now owning 134,030,679 shares valued at around $22.15 billion. Overall, institutional and hedge fund investors collectively own about 40.03% of Alphabet’s stock.

Analyst Insights and Ratings

A variety of equity analysts have recently provided insights on Alphabet shares. DZ Bank downgraded its rating from "buy" to "hold," setting a price target of $198.00. Meanwhile, KeyCorp also lowered its target price from $220.00 to $202.00 while maintaining an "overweight" rating. Cantor Fitzgerald retained its "neutral" rating with a target price of $200.00. Additionally, JPMorgan Chase & Co. adjusted its target down from $232.00 to $220.00 but kept its "overweight" rating. Morgan Stanley similarly reduced its target from $215.00 to $210.00 while maintaining an "overweight" stance. Currently, among analysts, there are ten hold ratings, twenty-nine buy ratings, and four strong buy ratings. As per MarketBeat.com, Alphabet holds a consensus rating of "Moderate Buy" alongside a price target of $210.59.

Insider Selling Activities

In related developments, insider John Kent Walker sold 16,820 shares of Alphabet's stock on December 30 at an average price of $192.62, resulting in total proceeds of approximately $3,239,868.40. Post-sale, he retains 43,981 shares valued around $8.47 million, denoting a 27.66% reduction in his holding. Another insider, CAO Amie Thuener O'toole, also divested 1,368 shares on January 2 at an average price of $191.55, totaling about $262,040.40. Following the sale, she holds 20,681 shares worth approximately $3.96 million, marking a decline in her stake of 6.20%. In the last ninety days, insiders have sold a total of 93,048 shares valued at around $17.37 million. The insider ownership stands at 11.55%.

Current Market Overview and Performance

Alphabet's shares opened at $163.99 on Friday, showcasing a debt-to-equity ratio of 0.03. The company has a quick ratio and current ratio both at 1.84. The stock has underperformed, with a 50-day moving average of $182.57 and a 200-day moving average of $176.38. The shares reached a 52-week low of $147.22, while the highest point was $207.05. Alphabet boasts a market capitalization of $2.00 trillion, with a PE ratio of 20.37 and a price-to-earnings-growth ratio of 1.34.

Latest Earnings Report

Alphabet recently reported its quarterly earnings on February 4. The company announced earnings per share (EPS) of $2.15, exceeding analyst estimates of $2.12 by $0.03. Alphabet reported a net margin of 28.60% along with a return on equity of 32.49%. Analysts predict that the company will post an EPS of 8.9 for the current fiscal year.

Dividend Information

Recently, Alphabet declared a quarterly dividend paid on March 17 to shareholders recorded by March 10, with each share yielding $0.20. This translates to an annual dividend of $0.80, resulting in a dividend yield of 0.49%. The payout ratio stands at 9.94%.

Company Overview

Alphabet Inc. operates globally, providing various products and platforms across multiple regions including the U.S., Europe, and Asia. The company functions through segments such as Google Services, Google Cloud, and Other Bets. The Google Services segment offers a diverse range of products and services, encompassing advertisements, Android, Chrome, and platforms such as Gmail, Google Maps, and YouTube.

NBT, Alphabet, Investors