Robertson Stephens Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 72,186 shares of the information services provider's stock after selling 6,152 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Alphabet were worth $11,163,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Lynch & Associates IN raised its holdings in shares of Alphabet by 2.6% in the 1st quarter. Lynch & Associates IN now owns 32,072 shares of the information services provider's stock worth $4,960,000 after purchasing an additional 800 shares in the last quarter. RS Crum Inc. grew its position in Alphabet by 24.2% in the first quarter. RS Crum Inc. now owns 1,499 shares of the information services provider's stock worth $232,000 after buying an additional 292 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in shares of Alphabet by 0.8% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 141,328 shares of the information services provider's stock valued at $21,855,000 after buying an additional 1,105 shares in the last quarter. Vista Investment Partners LLC lifted its position in shares of Alphabet by 6.4% during the 1st quarter. Vista Investment Partners LLC now owns 8,418 shares of the information services provider's stock valued at $1,302,000 after acquiring an additional 505 shares during the last quarter. Finally, AA Financial Advisors LLC boosted its stake in shares of Alphabet by 0.9% during the 1st quarter. AA Financial Advisors LLC now owns 8,771 shares of the information services provider's stock worth $1,356,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Sanford C. Bernstein increased their price target on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Wedbush set a $190.00 price objective on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. 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 report on Wednesday, April 16th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $199.75.
Read Our Latest Stock Report on Alphabet
Alphabet Price Performance
NASDAQ GOOGL opened at $173.32 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.10 trillion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a 50 day moving average price of $164.58 and a two-hundred day moving average price of $174.75.
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 analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the firm earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is owned by corporate insiders.
About Alphabet
(
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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