Hemenway Trust Co LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,962 shares of the information services provider's stock after acquiring an additional 10,367 shares during the quarter. Alphabet comprises 4.0% of Hemenway Trust Co LLC's portfolio, making the stock its 7th biggest position. Hemenway Trust Co LLC's holdings in Alphabet were worth $48,860,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $24,383,677,000. FMR LLC boosted its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. GAMMA Investing LLC increased its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ GOOGL traded down $6.68 during trading hours on Friday, reaching $166.64. The company's stock had a trading volume of 75,073,701 shares, compared to its average volume of 30,656,043. 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 simple moving average of $164.58 and a 200 day simple moving average of $174.75. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.02 trillion, a PE ratio of 18.58, a PEG ratio of 1.11 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred 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 sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on GOOGL shares. Citigroup increased their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.75.
View Our Latest Report on Alphabet
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.
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