DE Burlo Group Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,410 shares of the information services provider's stock after selling 2,985 shares during the quarter. DE Burlo Group Inc.'s holdings in Alphabet were worth $5,167,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of GOOGL. Mystic Asset Management Inc. increased its holdings in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co increased its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $3,119,000. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC boosted its stake in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Up 3.1%
GOOGL stock traded up $5.91 during trading on Monday, hitting $195.04. 31,493,654 shares of the stock traded hands, compared to its average volume of 37,132,445. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.28 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 firm's 50 day moving average is $178.32 and its two-hundred day moving average is $172.82.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
Analyst Ratings Changes
GOOGL has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. UBS Group upped their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Barclays increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.39.
Read Our Latest Stock Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 in the last three months. 11.55% of the stock is currently owned by company insiders.
Alphabet Company Profile
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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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