Douglass Winthrop Advisors LLC Decreases Stake in Alphabet Inc. $GOOGL

Key Points

• Douglass Winthrop Advisors LLC has reduced its stake in Alphabet Inc. by 2.2% during the first quarter, now owning 346,120 shares worth approximately $53.5 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a yield of 0.4%, to be paid on September 15th.
• In terms of stock performance, Alphabet's shares opened at $208.49, with a 52-week fluctuation between a low of $140.53 and a high of $210.52.

Douglass Winthrop Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 346,120 shares of the information services provider's stock after selling 7,753 shares during the quarter. Douglass Winthrop Advisors LLC's holdings in Alphabet were worth $53,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guardian Wealth Management Inc. raised its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter worth about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.2%

GOOGL opened at $208.49 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $210.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $187.44 and a two-hundred day moving average of $173.28. The stock has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JMP Securities raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. DA Davidson lifted their price objective on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $211.53.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 over the last three months. Corporate insiders own 11.55% of the company's stock.

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.

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