Crossmark Global Holdings Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,258 shares of the information services provider's stock after selling 1,614 shares during the quarter. Alphabet makes up about 1.0% of Crossmark Global Holdings Inc.'s holdings, making the stock its 9th biggest holding. Crossmark Global Holdings Inc.'s holdings in Alphabet were worth $58,783,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the period. Proficio Capital Partners LLC increased its stake in Alphabet by 10.0% in the 4th quarter. Proficio Capital Partners LLC now owns 82,690 shares of the information services provider's stock valued at $15,747,000 after buying an additional 7,548 shares during the period. Raymond James Financial Inc. acquired a new position in Alphabet in the 4th quarter valued at approximately $1,551,533,000. Finally, Destination Wealth Management increased its stake in Alphabet by 4.0% in the 4th quarter. Destination Wealth Management now owns 29,350 shares of the information services provider's stock valued at $5,589,000 after buying an additional 1,116 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 12.99% of the company's stock.
Alphabet Price Performance
GOOG stock traded down $2.99 during trading on Monday, hitting $177.56. 20,952,880 shares of the stock traded hands, compared to its average volume of 21,209,194. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.27 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $169.97 and a 200 day simple moving average of $175.40.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is currently 9.36%.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. KeyCorp lowered their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $206.38.
Check Out Our Latest Stock Report on Alphabet
Alphabet Profile
(
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.
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