Callan Family Office LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,625 shares of the information services provider's stock after selling 48,163 shares during the period. Alphabet accounts for 0.7% of Callan Family Office LLC's portfolio, making the stock its 25th largest holding. Callan Family Office LLC's holdings in Alphabet were worth $9,684,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $4,317,606,000. GAMMA Investing LLC raised its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. Northern Trust Corp increased 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 valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased 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 valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on GOOGL shares. Cantor Fitzgerald raised their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Piper Sandler lifted their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, JMP Securities lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $211.53.
Check Out Our Latest Report on GOOGL
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 222,219 shares of company stock valued at $40,725,772. 11.64% of the stock is owned by insiders.
Alphabet Trading Up 0.5%
Shares of GOOGL stock traded up $0.9820 on Thursday, hitting $200.3020. The stock had a trading volume of 6,958,430 shares, compared to its average volume of 36,245,418. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $2.42 trillion, a P/E ratio of 21.32, a PEG ratio of 1.36 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $185.70 and a two-hundred day moving average price of $173.38.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
About Alphabet
(
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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