Capital Investment Services of America Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,314 shares of the information services provider's stock after selling 1,774 shares during the quarter. Capital Investment Services of America Inc.'s holdings in Alphabet were worth $7,007,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its position in Alphabet by 6.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 178,351 shares of the information services provider's stock valued at $27,580,000 after purchasing an additional 11,516 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Alphabet by 4.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider's stock valued at $387,979,000 after buying an additional 106,082 shares in the last quarter. Matauro LLC raised its holdings in shares of Alphabet by 27.1% in the 1st quarter. Matauro LLC now owns 4,366 shares of the information services provider's stock valued at $675,000 after buying an additional 930 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in Alphabet by 0.6% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 472,855 shares of the information services provider's stock worth $73,122,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Griffin Asset Management Inc. boosted its holdings in Alphabet by 67.6% during the 1st quarter. Griffin Asset Management Inc. now owns 49,846 shares of the information services provider's stock valued at $7,708,000 after acquiring an additional 20,101 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on GOOGL. Morgan Stanley lowered their price objective 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. DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Wells Fargo & Company lifted their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Ten 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $199.75.
View Our Latest Stock Report on Alphabet
Alphabet Stock Performance
GOOGL traded up $2.10 during trading on Monday, reaching $176.77. The company's stock had a trading volume of 27,312,231 shares, compared to its average volume of 30,428,122. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company's fifty day moving average price is $162.89 and its 200-day moving average price is $174.68. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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 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 period in the previous year, the business earned $1.89 earnings per share. On average, equities analysts forecast 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 will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 over the last 90 days. Company insiders own 11.64% of the company's stock.
Alphabet 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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