Equitable Trust Co. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,035 shares of the information services provider's stock after selling 7,998 shares during the quarter. Alphabet accounts for approximately 1.4% of Equitable Trust Co.'s portfolio, making the stock its 13th largest holding. Equitable Trust Co.'s holdings in Alphabet were worth $24,846,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Concentrum Wealth Management raised its position in Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC lifted its stake in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after acquiring an additional 57 shares during the period. Kidder Stephen W lifted its stake in Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after acquiring an additional 58 shares during the period. Providence Wealth Advisors LLC lifted its stake in Alphabet by 0.6% in the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after acquiring an additional 60 shares during the period. Finally, Objectivity Squared LLC raised its holdings in Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after purchasing an additional 62 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently commented on GOOG. KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Scotiabank upped their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.19.
Check Out Our Latest Stock Analysis on Alphabet
Insiders Place Their Bets
In related news, 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 value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is currently owned by company insiders.
Alphabet Price Performance
GOOG stock traded down $1.18 during mid-day trading on Monday, reaching $192.90. 15,549,912 shares of the company's stock were exchanged, compared to its average volume of 24,222,178. The company has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. The stock's 50 day moving average is $176.86 and its 200 day moving average is $174.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the business posted $1.89 earnings per share. The firm's revenue was up 13.8% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.44%. Alphabet's dividend payout ratio (DPR) is 8.95%.
About Alphabet
(
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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