Mutual Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,519 shares of the information services provider's stock after selling 5,498 shares during the quarter. Alphabet makes up about 0.6% of Mutual Advisors LLC's portfolio, making the stock its 23rd largest position. Mutual Advisors LLC's holdings in Alphabet were worth $21,787,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in Alphabet during the fourth quarter worth about $3,119,000. Cypress Capital LLC boosted its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the period. Optivise Advisory Services LLC boosted its position in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the period. Finally, Community Bank N.A. boosted its position in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares during the period. 40.03% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 over the last quarter. Corporate insiders own 11.64% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Morgan Stanley lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup reaffirmed a "buy" rating and issued a $203.00 target price (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.13.
Read Our Latest Analysis on Alphabet
Alphabet Trading Up 0.6%
NASDAQ:GOOGL traded up $1.00 during trading hours on Thursday, hitting $177.62. The company had a trading volume of 29,191,793 shares, compared to its average volume of 31,781,916. The company has a market capitalization of $2.16 trillion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The stock has a 50-day moving average price of $169.67 and a 200 day moving average price of $173.69. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
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 for the quarter, beating the consensus estimate 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 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 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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