Coastline Trust Co Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Coastline Trust Co increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,765 shares of the information services provider's stock after purchasing an additional 2,858 shares during the quarter. Alphabet makes up about 3.0% of Coastline Trust Co's portfolio, making the stock its 8th largest holding. Coastline Trust Co's holdings in Alphabet were worth $24,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Fedenia Advisers LLC increased its holdings in shares of Alphabet by 30.3% in the first quarter. Fedenia Advisers LLC now owns 7,289 shares of the information services provider's stock worth $1,127,000 after purchasing an additional 1,697 shares during the period. Detalus Advisors LLC increased its position in shares of Alphabet by 16.0% during the first quarter. Detalus Advisors LLC now owns 12,541 shares of the information services provider's stock valued at $1,939,000 after acquiring an additional 1,729 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its holdings in Alphabet by 3.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 11,452 shares of the information services provider's stock worth $1,787,000 after purchasing an additional 415 shares during the last quarter. Oregon Pacific Wealth Management LLC boosted its stake in shares of Alphabet by 7.5% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 5,093 shares of the information services provider's stock worth $788,000 after acquiring an additional 354 shares during the last quarter. Finally, Harbour Trust & Investment Management Co raised its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares of the company's stock, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 over the last ninety days. Company insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Wells Fargo & Company upped their price target on shares of Alphabet from $175.00 to $177.00 and gave the company an "equal weight" rating in a research note on Tuesday. Roth Capital reaffirmed a "buy" rating and issued a $205.00 price objective (up from $180.00) on shares of Alphabet in a report on Tuesday. DA Davidson decreased their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.13.

Alphabet Trading Up 1.3%

Shares of Alphabet stock traded up $2.26 during trading on Wednesday, hitting $176.62. The stock had a trading volume of 42,988,099 shares, compared to its average volume of 31,724,461. The stock has a 50 day simple moving average of $169.31 and a 200 day simple moving average of $173.67. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market capitalization of $2.14 trillion, a PE ratio of 19.69, a P/E/G ratio of 1.25 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 $0.21 dividend. The ex-dividend date was Monday, June 9th. 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 dividend yield of 0.48%. Alphabet's payout ratio 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.