Coastline Trust Co Acquires 2,858 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Coastline Trust Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,765 shares of the information services provider's stock after purchasing an additional 2,858 shares during the period. Alphabet makes up 3.0% of Coastline Trust Co's portfolio, making the stock its 8th biggest position. Coastline Trust Co's holdings in Alphabet were worth $24,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Anderson Financial Strategies LLC acquired a new stake in Alphabet during the 4th quarter valued at $49,000. EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at $49,000. Navigoe LLC bought a new position in shares of Alphabet in the fourth quarter valued at about $51,000. Prudent Man Investment Management Inc. acquired a new position in Alphabet during the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. acquired a new position in Alphabet during the 4th quarter worth about $57,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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

A number of brokerages have weighed in on GOOGL. Wells Fargo & Company boosted their target price on shares of Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group set a $195.00 price target on shares of Alphabet in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Bank of America increased their price objective on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, KeyCorp boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $200.13.

Alphabet Stock Up 0.6%

Shares of NASDAQ GOOGL traded up $1.00 during mid-day trading on Thursday, reaching $177.62. 29,191,793 shares of the company's stock were exchanged, compared to its average volume of 31,845,344. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.24 and a beta of 1.00. The business has a fifty day simple moving average of $169.67 and a 200 day simple moving average of $173.69.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its 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 net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company posted $1.89 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. 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. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

About Alphabet

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.