Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Greenleaf Trust

Greenleaf Trust lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,541 shares of the information services provider's stock after buying an additional 13,409 shares during the quarter. Alphabet accounts for 0.4% of Greenleaf Trust's portfolio, making the stock its 17th biggest holding. Greenleaf Trust's holdings in Alphabet were worth $47,404,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth $28,000. Elite Financial Inc. purchased a new stake in Alphabet during the first quarter valued at about $42,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter valued at about $49,000. EQ Wealth Advisors LLC purchased a new stake in Alphabet during the first quarter valued at about $49,000. Finally, Navigoe LLC purchased a new stake in Alphabet during the fourth quarter valued at about $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Cantor Fitzgerald upped their target price on Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday. Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, UBS Group increased their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $201.41.

Alphabet Stock Performance

GOOGL stock traded up $0.67 on Thursday, reaching $183.64. The company's stock had a trading volume of 20,732,495 shares, compared to its average volume of 32,004,194. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market capitalization of $2.23 trillion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The firm has a fifty day moving average of $171.67 and a two-hundred day moving average of $173.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,343 shares of company stock valued at $31,296,140. 11.64% of the stock is owned by corporate insiders.

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.