Chevy Chase Trust Holdings LLC Sells 32,767 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Chevy Chase Trust Holdings LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,923,752 shares of the information services provider's stock after selling 32,767 shares during the quarter. Alphabet comprises about 1.9% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 7th biggest position. Chevy Chase Trust Holdings LLC's holdings in Alphabet were worth $606,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Macroview Investment Management LLC increased its holdings in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after acquiring an additional 52 shares during the period. Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc grew its position in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the last quarter. Finally, Nia Impact Advisors LLC increased its stake in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Truist Financial lowered their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Jefferies Financial Group decreased their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Trading Down 0.8%

NASDAQ GOOGL traded down $1.41 on Monday, hitting $177.12. 11,447,146 shares of the stock were exchanged, compared to its average volume of 31,177,392. The company's 50-day moving average price is $166.45 and its two-hundred day moving average price is $174.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.26 and a beta of 1.01.

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 business 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 quarter last year, the firm posted $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on 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 sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 in the last 90 days. 11.55% 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.