Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,946 shares of the information services provider's stock after selling 5,335 shares during the period. Alphabet comprises about 1.6% of Birch Hill Investment Advisors LLC's investment portfolio, making the stock its 23rd biggest holding. Birch Hill Investment Advisors LLC's holdings in Alphabet were worth $34,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. LSV Asset Management bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.4%

Alphabet stock opened at $177.23 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm's 50 day moving average price is $165.52 and its two-hundred day moving average price is $176.44.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's payout ratio is 9.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOG. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. KeyCorp lowered their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Alphabet Profile

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.

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