Guyasuta Investment Advisors Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,923 shares of the information services provider's stock after selling 7,105 shares during the period. Guyasuta Investment Advisors Inc.'s holdings in Alphabet were worth $4,473,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares during the period. Addison Advisors LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc boosted its holdings in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the last quarter. Finally, Nia Impact Advisors LLC grew its position in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Susquehanna dropped their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $200.17.
View Our Latest Research Report on GOOGL
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,306 shares of company stock valued at $35,782,927. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Stock Up 1.7%
Shares of GOOGL traded up $2.86 during midday trading on Thursday, hitting $173.54. The company had a trading volume of 31,662,209 shares, compared to its average volume of 30,836,780. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company's 50 day moving average price is $165.45 and its 200 day moving average price is $174.58. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company 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 earned $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is currently 9.36%.
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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