Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 445,571 shares of the information services provider's stock after selling 13,771 shares during the period. Alphabet makes up 3.3% of Birch Hill Investment Advisors LLC's investment portfolio, making the stock its 10th largest position. Birch Hill Investment Advisors LLC's holdings in Alphabet were worth $68,903,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Boomfish Wealth Group LLC lifted its stake in shares of Alphabet by 4.2% in the 1st quarter. Boomfish Wealth Group LLC now owns 2,210 shares of the information services provider's stock valued at $342,000 after purchasing an additional 90 shares during the last quarter. Tennessee Valley Asset Management Partners lifted its stake in Alphabet by 71.9% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 3,621 shares of the information services provider's stock worth $560,000 after acquiring an additional 1,514 shares in the last quarter. Huntleigh Advisors Inc. acquired a new position in Alphabet during the 1st quarter worth about $30,928,000. Bell Bank lifted its stake in Alphabet by 9.8% during the 1st quarter. Bell Bank now owns 43,652 shares of the information services provider's stock worth $6,750,000 after acquiring an additional 3,905 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co lifted its stake in Alphabet by 93.3% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 145,000 shares of the information services provider's stock worth $22,423,000 after acquiring an additional 70,000 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,070 shares of company stock worth $37,745,632 in the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $6.68 during mid-day trading on Friday, reaching $166.64. 75,073,701 shares of the stock were exchanged, compared to its average volume of 30,699,179. The company has a 50 day simple moving average of $164.77 and a 200-day simple moving average of $174.71. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 18.58, a P/E/G ratio of 1.11 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm 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 34.54% and a net margin of 30.86%. During the same quarter last year, the business posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. DA Davidson decreased their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.