Legacy Private Trust Co. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,259 shares of the information services provider's stock after selling 7,297 shares during the period. Alphabet accounts for 1.3% of Legacy Private Trust Co.'s holdings, making the stock its 14th biggest position. Legacy Private Trust Co.'s holdings in Alphabet were worth $19,525,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after buying an additional 7,574,417 shares in the last quarter. Capital Research Global Investors grew its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the topic of several analyst reports. Morgan Stanley reduced their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities reissued a "neutral" rating and set a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. Finally, DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Trading Down 1.2%
Shares of GOOGL traded down $2.13 during mid-day trading on Friday, reaching $169.73. 52,598,920 shares of the company were exchanged, compared to its average volume of 29,949,599. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $2.06 trillion, a PE ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50 day simple moving average of $159.10 and a two-hundred day simple moving average of $174.56.
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 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock valued at $26,772,774 in the last quarter. 11.55% of the stock is currently owned by company insiders.
Alphabet Profile
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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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