Ballast Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,429 shares of the information services provider's stock after selling 2,073 shares during the period. Alphabet accounts for about 0.7% of Ballast Advisors LLC's portfolio, making the stock its 23rd largest position. Ballast Advisors LLC's holdings in Alphabet were worth $2,231,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $24,383,677,000. FMR LLC grew its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its stake in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Trading Down 1.4%
Shares of GOOGL opened at $189.13 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a market cap of $2.29 trillion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. The firm's fifty day moving average is $178.32 and its two-hundred day moving average is $172.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GOOGL shares. Citigroup boosted their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Barclays lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Susquehanna boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Rosenblatt Securities raised their price objective on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley lifted their target price on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.39.
View Our Latest Report on Alphabet
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 over the last three months. Corporate insiders own 11.55% of the company's stock.
Alphabet Company 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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