Chapin Davis Inc. Sells 5,455 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Chapin Davis Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,506 shares of the information services provider's stock after selling 5,455 shares during the quarter. Alphabet makes up approximately 1.9% of Chapin Davis Inc.'s holdings, making the stock its 12th biggest position. Chapin Davis Inc.'s holdings in Alphabet were worth $5,646,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $49,000. Navigoe LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $53,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOGL shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Wednesday. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets restated an "outperform" rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Rosenblatt Securities restated a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Citigroup restated a "buy" rating and set a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.95.

Alphabet Price Performance

GOOGL stock traded up $4.99 during midday trading on Friday, reaching $178.53. The company had a trading volume of 107,974,317 shares, compared to its average volume of 31,238,454. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a 50 day moving average price of $166.45 and a 200-day moving average price of $174.52.

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 the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's payout ratio is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% 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 the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,195 shares of company stock valued at $35,764,898. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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.