Plimoth Trust Co. LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,591 shares of the information services provider's stock after selling 2,431 shares during the period. Alphabet accounts for about 2.6% of Plimoth Trust Co. LLC's portfolio, making the stock its 6th largest holding. Plimoth Trust Co. LLC's holdings in Alphabet were worth $9,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Wealth Group Ltd. lifted its holdings in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC lifted its holdings in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after acquiring an additional 1,119 shares during the last quarter. Eagle Capital Management LLC raised its position in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC raised its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Alphabet in the fourth quarter valued at approximately $154,716,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm'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 transaction, the chief accounting officer now directly 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 90 days, insiders have sold 228,070 shares of company stock valued at $37,745,632. 11.64% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have issued reports on GOOGL shares. Citigroup boosted their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Jefferies Financial Group cut their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $199.75.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL opened at $166.64 on Friday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The business's fifty day moving average price is $164.77 and its 200 day moving average price is $174.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed 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 is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
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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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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