Alphabet Inc. (NASDAQ:GOOGL) is Van Cleef Asset Management Inc's 6th Largest Position

Van Cleef Asset Management Inc lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 190,194 shares of the information services provider's stock after purchasing an additional 3,200 shares during the quarter. Alphabet comprises approximately 3.3% of Van Cleef Asset Management Inc's holdings, making the stock its 6th largest holding. Van Cleef Asset Management Inc's holdings in Alphabet were worth $29,412,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GOOGL. FMR LLC raised its position in shares of 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 purchasing an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 16.2% during the 4th 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 acquiring an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised 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 valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,943 shares of company stock valued at $31,223,348 over the last 90 days. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOGL. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Roth Capital reissued a "buy" rating and issued a $205.00 price target (up previously from $180.00) on shares of Alphabet in a research note on Tuesday, July 8th. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Ten research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $199.82.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $182.00 on Wednesday. The business's fifty day moving average price is $171.04 and its two-hundred day moving average price is $173.13. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

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. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 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.

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