Bristol John W & Co. Inc. NY cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,151,874 shares of the information services provider's stock after selling 16,182 shares during the quarter. Alphabet accounts for about 3.6% of Bristol John W & Co. Inc. NY's holdings, making the stock its 8th biggest holding. Bristol John W & Co. Inc. NY's holdings in Alphabet were worth $218,050,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Bennett Selby Investments LP raised its position in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after acquiring an additional 52 shares during the period. Macroview Investment Management LLC grew its position in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Addison Advisors LLC raised its position in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors lifted its stake in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after buying an additional 54 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated 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 $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock worth $26,793,380 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent research reports. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Bank of America boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Morgan Stanley cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Report on Alphabet
Alphabet Stock Performance
NASDAQ GOOGL traded down $0.96 on Thursday, hitting $171.40. 18,618,454 shares of the company's stock were exchanged, compared to its average volume of 29,794,731. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 1.34 and a beta of 1.01. The firm's 50-day moving average price is $159.04 and its two-hundred day moving average price is $174.73. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 (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 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 analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the company 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio is 9.36%.
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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