Trail Ridge Investment Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,470 shares of the information services provider's stock after selling 2,948 shares during the period. Alphabet accounts for about 2.3% of Trail Ridge Investment Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Trail Ridge Investment Advisors LLC's holdings in Alphabet were worth $4,448,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Alphabet during the 4th quarter valued at approximately $5,166,070,000. GAMMA Investing LLC grew its position in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet during the 4th quarter valued at about $1,551,533,000. Northern Trust Corp raised its holdings in Alphabet by 16.1% in the fourth 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 last quarter. Finally, GQG Partners LLC lifted its stake in shares of Alphabet by 181,679.1% in the fourth 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 in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on GOOG shares. Oppenheimer reissued an "outperform" rating and set a $220.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $207.13.
Read Our Latest Research Report on Alphabet
Alphabet Stock Performance
Shares of GOOG opened at $181.31 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $171.50 and a two-hundred day simple moving average of $174.76. The stock has a market cap of $2.20 trillion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the business posted $1.89 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,443 shares of company stock worth $36,298,548. 12.99% of the stock is owned by corporate insiders.
Alphabet Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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