UMB Bank n.a. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 779,405 shares of the information services provider's stock after selling 11,794 shares during the quarter. Alphabet accounts for approximately 2.0% of UMB Bank n.a.'s investment portfolio, making the stock its 10th largest position. UMB Bank n.a.'s holdings in Alphabet were worth $120,527,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after acquiring an additional 52 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after buying an additional 53 shares during the last quarter. Addison Advisors LLC grew 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 buying an additional 53 shares during the period. Burt Wealth Advisors grew its holdings in shares of Alphabet by 1.0% during the fourth 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 during the last quarter. Finally, Perritt Capital Management Inc increased its position in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was 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 owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,770 shares of company stock valued at $32,036,638. Company insiders own 11.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GOOGL. Mizuho lowered their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their price objective on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. UBS Group set a $195.00 target price on Alphabet in a research note on Friday, April 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.75.
Read Our Latest Stock Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded up $2.41 during trading on Monday, hitting $176.09. 28,876,123 shares of the company's stock were exchanged, compared to its average volume of 30,199,313. 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 52-week low of $140.53 and a 52-week high of $207.05. The business's 50-day simple moving average is $160.14 and its 200 day simple moving average is $174.38. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its 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 firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's payout ratio is currently 9.36%.
Alphabet Profile
(
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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