Alphabet Inc. (NASDAQ:GOOG) is Canton Hathaway LLC's 7th Largest Position

Canton Hathaway LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,140 shares of the information services provider's stock after acquiring an additional 8,500 shares during the quarter. Alphabet accounts for 1.3% of Canton Hathaway LLC's portfolio, making the stock its 7th biggest holding. Canton Hathaway LLC's holdings in Alphabet were worth $6,584,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth $5,166,070,000. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth $1,551,533,000. Northern Trust Corp lifted its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC lifted its holdings in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,070 shares of company stock valued at $37,745,632. Company insiders own 12.99% of the company's stock.

Alphabet Trading Down 3.6%

Shares of NASDAQ:GOOG opened at $167.73 on Friday. The business's 50-day moving average is $166.31 and its 200 day moving average is $176.39. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 18.70, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's dividend payout ratio is currently 9.36%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.