AAFMAA Wealth Management & Trust LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,227 shares of the information services provider's stock after selling 2,387 shares during the period. Alphabet accounts for 1.3% of AAFMAA Wealth Management & Trust LLC's holdings, making the stock its 16th biggest position. AAFMAA Wealth Management & Trust LLC's holdings in Alphabet were worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Independence Bank of Kentucky lifted its stake in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after buying an additional 1,376 shares in the last quarter. City State Bank grew its stake in Alphabet by 11.2% during the 1st quarter. City State Bank now owns 17,509 shares of the information services provider's stock valued at $2,735,000 after acquiring an additional 1,765 shares in the last quarter. First Affirmative Financial Network raised its holdings in Alphabet by 1.6% in the 1st quarter. First Affirmative Financial Network now owns 13,168 shares of the information services provider's stock valued at $2,057,000 after acquiring an additional 206 shares during the last quarter. Radnor Capital Management LLC raised its holdings in Alphabet by 2.5% in the 1st quarter. Radnor Capital Management LLC now owns 13,345 shares of the information services provider's stock valued at $2,085,000 after acquiring an additional 330 shares during the last quarter. Finally, Impact Capital Partners LLC lifted its stake in Alphabet by 1.4% in the 1st quarter. Impact Capital Partners LLC now owns 14,723 shares of the information services provider's stock worth $2,300,000 after purchasing an additional 207 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 3.0%
NASDAQ:GOOG opened at $174.92 on Friday. The stock has a fifty day simple moving average of $161.88 and a 200 day simple moving average of $176.05. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.34 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 company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
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 (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Citigroup restated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
Check Out Our Latest Research Report on GOOG
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by corporate insiders.
Alphabet 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
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