Lincoln Capital LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,168 shares of the information services provider's stock after selling 2,867 shares during the period. Alphabet comprises approximately 5.0% of Lincoln Capital LLC's investment portfolio, making the stock its 5th biggest holding. Lincoln Capital LLC's holdings in Alphabet were worth $24,261,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter valued at $39,000. 40.03% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Wedbush raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Westpark Capital lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.53.
View Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,719 shares of company stock worth $47,223,172. Insiders own 11.64% of the company's stock.
Alphabet Trading Up 3.2%
Shares of Alphabet stock opened at $206.09 on Friday. The firm has a 50-day moving average of $186.81 and a 200-day moving average of $173.37. The stock has a market cap of $2.49 trillion, a PE ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $208.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Alphabet 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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