Nicola Wealth Management LTD. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,900 shares of the information services provider's stock after selling 9,000 shares during the quarter. Alphabet comprises 1.7% of Nicola Wealth Management LTD.'s portfolio, making the stock its 19th largest holding. Nicola Wealth Management LTD.'s holdings in Alphabet were worth $17,613,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. lifted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Canaccord Genuity Group boosted their price objective on Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. BMO Capital Markets boosted their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Roth Capital boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, KeyCorp boosted their price target on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.44.
Get Our Latest Stock Analysis on Alphabet
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is currently owned by company insiders.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $240.37 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $242.25. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.91 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The firm has a 50-day moving average price of $200.66 and a 200 day moving average price of $177.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
About Alphabet
(
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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