Alphabet Inc. (NASDAQ:GOOGL) is J. L. Bainbridge & Co. Inc.'s 8th Largest Position

J. L. Bainbridge & Co. Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,527 shares of the information services provider's stock after selling 22,298 shares during the quarter. Alphabet makes up approximately 4.2% of J. L. Bainbridge & Co. Inc.'s portfolio, making the stock its 8th biggest holding. J. L. Bainbridge & Co. Inc.'s holdings in Alphabet were worth $42,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter valued at about $30,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $49,000. Navigoe LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $51,000. Prudent Man Investment Management Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $53,000. Finally, Campbell Capital Management Inc. bought a new stake in Alphabet during the fourth quarter valued at approximately $57,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Citigroup reissued a "buy" rating and issued a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Tigress Financial raised their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. UBS Group set a $195.00 price objective on Alphabet in a report on Friday, April 25th. Finally, Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 in the last three months. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.2%

Shares of GOOGL stock traded up $0.44 during trading hours on Friday, reaching $179.08. The company's stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The firm's fifty day simple moving average is $168.36 and its 200 day simple moving average is $174.08. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company 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.