Harrell Investment Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,730 shares of the information services provider's stock after selling 2,432 shares during the period. Alphabet comprises approximately 2.0% of Harrell Investment Partners LLC's portfolio, making the stock its 14th biggest holding. Harrell Investment Partners LLC's holdings in Alphabet were worth $6,608,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC grew its holdings in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Activity
In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last quarter. 11.55% of the stock is currently owned by insiders.
Alphabet Stock Down 3.9%
Shares of GOOGL traded down $6.68 during trading hours on Friday, hitting $166.64. The company had a trading volume of 75,073,701 shares, compared to its average volume of 30,587,197. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.06 and a beta of 1.01. The firm has a fifty day moving average price of $164.77 and a 200-day moving average price of $174.73. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on GOOGL. Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Bank of America raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Analysis on GOOGL
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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