Alphabet Inc. (NASDAQ:GOOG) is Alpine Woods Capital Investors LLC's 6th Largest Position

Alpine Woods Capital Investors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 22.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,326 shares of the information services provider's stock after selling 17,745 shares during the quarter. Alphabet makes up approximately 2.4% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 6th biggest position. Alpine Woods Capital Investors LLC's holdings in Alphabet were worth $9,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Alphabet during the 4th quarter worth approximately $5,166,070,000. GAMMA Investing LLC increased its position in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $1,551,533,000. Northern Trust Corp raised its stake in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 over the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Stock Up 1.5%

Shares of NASDAQ GOOG traded up $2.61 during mid-day trading on Friday, reaching $181.31. 23,949,486 shares of the company's stock traded hands, compared to its average volume of 21,450,262. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50-day simple moving average of $171.50 and a 200 day simple moving average of $174.76. The stock has a market cap of $2.20 trillion, a P/E ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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 business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Oppenheimer reiterated an "outperform" rating and set a $220.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $207.13.

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.