Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,476 shares of the information services provider's stock after selling 2,527 shares during the period. Alphabet comprises approximately 2.4% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 6th largest holding. University of Texas Texas AM Investment Management Co.'s holdings in Alphabet were worth $13,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp grew its position in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Capital Research Global Investors boosted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 3.1%

Shares of GOOGL opened at $195.04 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock's 50 day moving average is $178.85 and its two-hundred day moving average is $172.81. The firm has a market cap of $2.36 trillion, a P/E ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JMP Securities raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Morgan Stanley raised their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company raised their price objective on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Tigress Financial raised their price objective on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Guggenheim raised their price objective on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.39.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 11.55% of the company's stock.

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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