New Hampshire Trust Sells 4,242 Shares of Alphabet Inc. (NASDAQ:GOOG)

New Hampshire Trust trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,240 shares of the information services provider's stock after selling 4,242 shares during the period. Alphabet makes up 1.8% of New Hampshire Trust's portfolio, making the stock its 10th biggest position. New Hampshire Trust's holdings in Alphabet were worth $8,005,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at $27,000. LSV Asset Management acquired a new position in Alphabet during the 4th quarter worth $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction 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 trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,270 shares of company stock worth $26,553,563. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Westpark Capital reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. UBS Group decreased their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $204.88.

Alphabet Stock Performance

NASDAQ:GOOG traded down $1.21 during mid-day trading on Tuesday, hitting $169.16. The stock had a trading volume of 13,921,159 shares, compared to its average volume of 20,234,184. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a 50 day simple moving average of $160.95 and a 200-day simple moving average of $176.24. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is 9.36%.

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.