Cobblestone Capital Advisors LLC NY Has $11.45 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cobblestone Capital Advisors LLC NY boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,020 shares of the information services provider's stock after buying an additional 1,339 shares during the quarter. Cobblestone Capital Advisors LLC NY's holdings in Alphabet were worth $11,446,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.5%

Shares of NASDAQ:GOOGL opened at $203.90 on Friday. 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 $2.47 trillion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The company has a 50-day simple moving average of $184.25 and a 200 day simple moving average of $173.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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 business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Roth Capital increased their price target on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wells Fargo & Company increased their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. JMP Securities increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,819 shares of company stock valued at $49,796,547. Company insiders own 11.64% of the company's stock.

Alphabet 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.

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