Boston Trust Walden Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,337,747 shares of the information services provider's stock after selling 50,409 shares during the quarter. Alphabet makes up 1.5% of Boston Trust Walden Corp's investment portfolio, making the stock its 5th largest position. Boston Trust Walden Corp's holdings in Alphabet were worth $206,869,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Global X Japan Co. Ltd. grew its holdings in shares of Alphabet by 9.7% during the first quarter. Global X Japan Co. Ltd. now owns 171,105 shares of the information services provider's stock worth $26,460,000 after buying an additional 15,165 shares in the last quarter. Heartwood Wealth Advisors LLC lifted its position in Alphabet by 1.9% during the first quarter. Heartwood Wealth Advisors LLC now owns 9,313 shares of the information services provider's stock valued at $1,440,000 after buying an additional 178 shares in the last quarter. Montz Harcus Wealth Management LLC lifted its position in Alphabet by 37.3% during the first quarter. Montz Harcus Wealth Management LLC now owns 5,568 shares of the information services provider's stock valued at $861,000 after buying an additional 1,512 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in shares of Alphabet by 0.6% during the first quarter. Institute for Wealth Management LLC. now owns 58,248 shares of the information services provider's stock worth $9,008,000 after purchasing an additional 322 shares in the last quarter. Finally, Centennial Wealth Advisory LLC lifted its position in shares of Alphabet by 12.1% during the first quarter. Centennial Wealth Advisory LLC now owns 4,394 shares of the information services provider's stock worth $680,000 after purchasing an additional 475 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOGL traded down $6.68 during mid-day trading on Friday, hitting $166.64. The company's stock had a trading volume of 75,073,701 shares, compared to its average volume of 30,587,197. The firm has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock's 50-day moving average is $164.77 and its two-hundred day moving average is $174.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,070 shares of company stock worth $37,745,632. 11.55% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GOOGL has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Cantor Fitzgerald cut their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. 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, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.75.
View Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
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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