Citizens & Northern Corp Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Citizens & Northern Corp trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,980 shares of the information services provider’s stock after selling 2,040 shares during the period. Alphabet makes up approximately 2.8% of Citizens & Northern Corp’s investment portfolio, making the stock its 9th largest holding. Citizens & Northern Corp’s holdings in Alphabet were worth $7,889,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Alphabet by 58.8% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 540 shares of the information services provider’s stock valued at $76,000 after purchasing an additional 200 shares in the last quarter. BlackDiamond Wealth Management LLC increased its position in shares of Alphabet by 9.3% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 4,652 shares of the information services provider’s stock valued at $674,000 after acquiring an additional 395 shares during the last quarter. Balboa Wealth Partners increased its position in shares of Alphabet by 2.1% in the fourth quarter. Balboa Wealth Partners now owns 51,311 shares of the information services provider’s stock valued at $7,231,000 after acquiring an additional 1,043 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Alphabet by 33.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,865 shares of the information services provider’s stock valued at $1,249,000 after acquiring an additional 2,237 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its position in shares of Alphabet by 9.9% in the fourth quarter. Enterprise Financial Services Corp now owns 9,742 shares of the information services provider’s stock valued at $1,373,000 after acquiring an additional 880 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOG shares. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $165.67.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares in the company, valued at $391,132,665.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock traded down $2.90 during trading on Thursday, hitting $175.10. The company had a trading volume of 11,036,570 shares, compared to its average volume of 21,981,367. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. The stock’s 50-day moving average price is $160.98 and its 200 day moving average price is $147.60. Alphabet Inc. has a one year low of $115.83 and a one year high of $179.95.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.7 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

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.