Alphabet Inc. (NASDAQ:GOOGL) is Beese Fulmer Investment Management Inc.'s 10th Largest Position

Beese Fulmer Investment Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,083 shares of the information services provider's stock after purchasing an additional 2,634 shares during the period. Alphabet accounts for 2.0% of Beese Fulmer Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Beese Fulmer Investment Management Inc.'s holdings in Alphabet were worth $23,209,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GOOGL. JPMorgan Chase & Co. increased its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. increased its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the last quarter. Capital & Planning LLC increased its position in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,119 shares during the last quarter. Eagle Capital Management LLC increased its position in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.2%

Shares of GOOGL traded down $2.13 during midday trading on Friday, reaching $169.73. 52,598,920 shares of the stock were exchanged, compared to its average volume of 29,949,599. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company's 50 day moving average is $159.10 and its two-hundred day moving average is $174.56. The company has a market capitalization of $2.06 trillion, a P/E ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the company earned $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $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 164,533 shares of company stock worth $26,772,774 in the last three months. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Rosenblatt Securities reissued a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. Cantor Fitzgerald cut their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.