Capital City Trust Co. FL reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,024 shares of the information services provider's stock after selling 1,491 shares during the period. Alphabet comprises about 2.8% of Capital City Trust Co. FL's holdings, making the stock its 8th largest holding. Capital City Trust Co. FL's holdings in Alphabet were worth $10,055,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% during 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 acquiring an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% during 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 acquiring an additional 10,135,430 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on GOOGL shares. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Needham & Company LLC increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Finally, Wedbush boosted their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.
Read Our Latest Report on Alphabet
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction 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 approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,399 shares of company stock valued at $43,525,794. 11.55% of the stock is currently owned by insiders.
Alphabet Stock Performance
NASDAQ GOOGL opened at $189.13 on Monday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.29 trillion, a P/E ratio of 20.14, a PEG ratio of 1.28 and a beta of 1.01. The company's 50-day simple moving average is $178.32 and its 200 day simple moving average is $172.82.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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