Dupont Capital Management Corp Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Dupont Capital Management Corp lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210,576 shares of the information services provider's stock after selling 13,622 shares during the quarter. Alphabet comprises 3.6% of Dupont Capital Management Corp's holdings, making the stock its 5th biggest position. Dupont Capital Management Corp's holdings in Alphabet were worth $32,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% during the first 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. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter worth $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,070 shares of company stock worth $37,745,632. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOG shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Scotiabank dropped their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $204.88.

Alphabet Price Performance

Alphabet stock traded down $6.25 during midday trading on Friday, reaching $167.73. The company's stock had a trading volume of 55,028,071 shares, compared to its average volume of 20,733,838. Alphabet Inc. has a 52 week low of $142.66 and a 52 week 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 business has a 50-day moving average price of $166.31 and a 200-day moving average price of $176.39. The stock has a market cap of $2.04 trillion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.

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.