Bellecapital International Ltd. cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,079 shares of the information services provider's stock after selling 4,404 shares during the period. Alphabet accounts for approximately 1.4% of Bellecapital International Ltd.'s investment portfolio, making the stock its 25th largest holding. Bellecapital International Ltd.'s holdings in Alphabet were worth $7,043,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares during the period. Capital International Investors boosted its position in Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. Northern Trust Corp boosted its position in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors boosted its position in Alphabet by 0.8% during the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after acquiring an additional 294,556 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock valued at $32,003,532 over the last 90 days. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
GOOG stock traded down $1.09 during trading on Friday, hitting $175.88. The company had a trading volume of 20,848,122 shares, compared to its average volume of 20,479,058. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.13 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average price of $164.57 and a two-hundred day moving average price of $176.30. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $204.88.
Read Our Latest Stock Report on Alphabet
About Alphabet
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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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