Davidson Trust Co. Acquires 2,356 Shares of Alphabet Inc. (NASDAQ:GOOG)

Davidson Trust Co. lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,063 shares of the information services provider's stock after purchasing an additional 2,356 shares during the quarter. Alphabet accounts for approximately 0.9% of Davidson Trust Co.'s holdings, making the stock its 28th biggest position. Davidson Trust Co.'s holdings in Alphabet were worth $1,885,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOG. LSV Asset Management bought a new stake in Alphabet in the 4th quarter worth about $27,000. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter worth about $26,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOG. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Scotiabank reduced their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $206.38.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOG stock traded up $0.46 on Friday, reaching $180.22. The company's stock had a trading volume of 13,287,389 shares, compared to its average volume of 21,210,158. The stock's fifty day simple moving average is $169.97 and its 200-day simple moving average is $175.49. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. 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 market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given 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 yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.