Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 471,651 shares of the information services provider's stock after selling 3,359 shares during the quarter. Alphabet makes up 5.0% of Nichols & Pratt Advisers LLP MA's portfolio, making the stock its 5th biggest holding. Nichols & Pratt Advisers LLP MA's holdings in Alphabet were worth $73,808,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC boosted its position in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors grew its position in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp increased its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.3%

GOOG stock traded up $0.46 during mid-day trading on Friday, hitting $180.22. 13,287,389 shares of the company were exchanged, compared to its average volume of 21,182,530. The firm has a fifty day simple moving average of $169.97 and a 200 day simple moving average of $175.60. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - 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. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $206.38.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 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. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

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.