New Hampshire Trust Sells 1,623 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Hampshire Trust reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,302 shares of the information services provider's stock after selling 1,623 shares during the period. Alphabet comprises approximately 1.6% of New Hampshire Trust's holdings, making the stock its 14th largest position. New Hampshire Trust's holdings in Alphabet were worth $6,851,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors boosted its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Susquehanna decreased their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. Morgan Stanley reduced their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Cantor Fitzgerald decreased their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

GOOGL traded down $1.29 on Tuesday, hitting $167.74. 24,776,768 shares of the stock traded hands, compared to its average volume of 29,967,410. The business has a fifty day moving average price of $159.18 and a two-hundred day moving average price of $174.53. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.84, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 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 business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,270 shares of company stock worth $26,553,563 in the last quarter. 11.64% of the stock is owned by corporate insiders.

Alphabet 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.