Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,568 shares of the information services provider's stock after selling 1,942 shares during the quarter. Alphabet makes up 7.1% of Bourne Lent Asset Management Inc.'s holdings, making the stock its 5th largest position. Bourne Lent Asset Management Inc.'s holdings in Alphabet were worth $16,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Rockbridge Capital Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $3,119,000. Optivise Advisory Services LLC increased its holdings in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. raised its position in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd raised its position in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC boosted its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Finally, DA Davidson cut their price objective on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last 90 days. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

GOOGL stock traded up $2.41 during mid-day trading on Monday, reaching $176.09. 28,876,123 shares of the company's stock were exchanged, compared to its average volume of 30,199,290. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock's 50 day moving average is $160.14 and its 200 day moving average is $174.38. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.