Alphabet Inc. (NASDAQ:GOOG) is Douglas Lane & Associates LLC's 5th Largest Position

Douglas Lane & Associates LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 914,883 shares of the information services provider's stock after selling 13,461 shares during the period. Alphabet accounts for about 2.1% of Douglas Lane & Associates LLC's portfolio, making the stock its 5th biggest holding. Douglas Lane & Associates LLC's holdings in Alphabet were worth $142,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in shares of Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Scotiabank decreased their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. KeyCorp reduced 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. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,159 shares of company stock worth $26,534,426. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG traded down $2.48 during trading hours on Monday, reaching $170.37. The stock had a trading volume of 24,665,355 shares, compared to its average volume of 20,256,657. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day simple moving average of $160.88 and a 200 day simple moving average of $176.27. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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 analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company 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.