Littlejohn Financial Services Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 76.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,820 shares of the information services provider's stock after selling 9,118 shares during the quarter. Littlejohn Financial Services Inc.'s holdings in Alphabet were worth $436,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Macroview Investment Management LLC increased its holdings in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after purchasing an additional 53 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors boosted 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 last quarter. Finally, Perritt Capital Management Inc boosted its stake in shares of Alphabet by 10.4% during the 4th 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. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of Alphabet stock opened at $173.68 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $160.14 and its two-hundred day moving average price is $174.35. 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 $2.11 trillion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is 9.36%.
Analysts Set New Price Targets
Several research firms recently issued reports on GOOGL. Stifel Nicolaus decreased their target price on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Citigroup raised their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Bank of America lifted 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, JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Ten 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 stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $199.75.
View Our Latest Research Report on Alphabet
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,770 shares of company stock worth $32,036,638. 11.64% of the stock is owned by corporate 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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