Alphabet Inc. (NASDAQ:GOOGL) Holdings Boosted by Truist Financial Corp

Truist Financial Corp boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,489,717 shares of the information services provider's stock after acquiring an additional 25,153 shares during the period. Truist Financial Corp's holdings in Alphabet were worth $385,010,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $49,000. EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $51,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $53,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $57,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOGL shares. Susquehanna dropped their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus lowered their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $199.61.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 1.4%

Alphabet stock opened at $180.19 on Friday. The company has a 50 day moving average price of $170.32 and a 200 day moving average price of $173.46. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 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.

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