Coastline Trust Co increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 156,765 shares of the information services provider's stock after purchasing an additional 2,858 shares during the quarter. Alphabet accounts for 3.0% of Coastline Trust Co's holdings, making the stock its 8th biggest holding. Coastline Trust Co's holdings in Alphabet were worth $24,242,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Alphabet in the 4th quarter valued at $24,383,677,000. FMR LLC grew its position in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 16,993.2% in 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 during the period. Northern Trust Corp lifted its holdings in shares of Alphabet by 17.0% in 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 during the period. Finally, Capital Research Global Investors lifted its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. 11.64% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on GOOGL shares. KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Tigress Financial upped their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. DA Davidson decreased their price objective on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wedbush set a $190.00 price objective on Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Ten 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.61.
Read Our Latest Analysis on GOOGL
Alphabet Price Performance
Shares of GOOGL traded up $2.57 during trading hours on Friday, hitting $180.19. 34,129,675 shares of the stock were exchanged, compared to its average volume of 31,853,810. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The stock's 50-day moving average price is $169.99 and its two-hundred day moving average price is $173.57.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share 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 issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
About Alphabet
(
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.
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