First Western Trust Bank lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,238 shares of the information services provider's stock after selling 5,676 shares during the quarter. Alphabet makes up about 0.5% of First Western Trust Bank's portfolio, making the stock its 15th biggest position. First Western Trust Bank's holdings in Alphabet were worth $10,862,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mystic Asset Management Inc. increased its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $3,119,000. Cypress Capital LLC raised its stake in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the period. Finally, Optivise Advisory Services LLC lifted its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
Alphabet stock opened at $203.90 on Friday. The business has a 50 day moving average of $184.25 and a 200-day moving average of $173.35. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. 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 company has a market capitalization of $2.47 trillion, a P/E ratio of 21.71, a P/E/G ratio of 1.37 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 (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given 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 presently 8.95%.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock worth $49,796,547 in the last quarter. Company insiders own 11.64% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on GOOGL shares. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. DA Davidson lifted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given 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 an average target price of $211.53.
Get Our Latest Report on GOOGL
Alphabet Company Profile
(
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.
Further Reading

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