Boit C F David Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Boit C F David grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,422 shares of the information services provider's stock after buying an additional 2,000 shares during the period. Alphabet accounts for 3.0% of Boit C F David's portfolio, making the stock its 12th biggest position. Boit C F David's holdings in Alphabet were worth $5,942,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Compass Planning Associates Inc purchased a new stake in Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp grew its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet in the fourth quarter worth $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL stock traded down $2.13 during trading on Friday, reaching $169.73. The stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,949,599. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock's 50 day moving average is $159.10 and its two-hundred day moving average is $174.56. 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 firm has a market cap of $2.06 trillion, a PE ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other news, 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 directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,533 shares of company stock valued at $26,772,774. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Citigroup increased their target price on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $199.75.

About Alphabet

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.