Collective Family Office LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,133 shares of the information services provider's stock after selling 2,090 shares during the quarter. Collective Family Office LLC's holdings in Alphabet were worth $1,412,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. FMR LLC raised its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's 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 completion of the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,533 shares of company stock valued at $26,772,774. 11.55% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GOOGL. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Wedbush set a $190.00 target price on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 target price (down 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Get Our Latest Report on GOOGL
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded down $2.13 on Friday, hitting $169.73. The company's stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,980,554. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock's 50-day moving average is $159.12 and its two-hundred day moving average is $174.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
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 the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost 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 dividend yield of 0.49%. Alphabet's dividend payout ratio is presently 9.36%.
Alphabet Company Profile
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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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