CCLA Investment Management Has $164.59 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

CCLA Investment Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,449 shares of the information services provider's stock after selling 46,672 shares during the quarter. Alphabet comprises approximately 2.9% of CCLA Investment Management's portfolio, making the stock its 6th biggest position. CCLA Investment Management's holdings in Alphabet were worth $164,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares during the period. Capital International Investors grew its stake in shares of Alphabet by 6.7% in the fourth 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 grew its stake in shares of Alphabet by 16.1% in the fourth 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. Capital Research Global Investors grew its stake in shares of Alphabet by 0.8% in the fourth 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alphabet by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after acquiring an additional 769,335 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.5%

Shares of NASDAQ:GOOG opened at $189.95 on Friday. The stock has a 50 day moving average of $179.37 and a 200 day moving average of $174.53. The company has a market cap of $2.31 trillion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,399 shares of company stock worth $43,525,794. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOG shares. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Pivotal Research lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.

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