Riverview Trust Co lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,774 shares of the information services provider's stock after selling 2,858 shares during the quarter. Alphabet accounts for 1.2% of Riverview Trust Co's investment portfolio, making the stock its 16th biggest position. Riverview Trust Co's holdings in Alphabet were worth $1,215,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC grew its holdings in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after acquiring an additional 52 shares during the last quarter. Ethos Financial Group LLC grew its holdings in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after acquiring an additional 53 shares during the last quarter. Hutchinson Capital Management CA grew its holdings in Alphabet by 1.5% in the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after acquiring an additional 54 shares during the last quarter. Finally, Tempus Wealth Planning LLC grew its holdings in Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider's stock worth $636,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GOOG shares. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.88.
Check Out Our Latest Research Report on GOOG
Insider Buying and Selling
In other news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,770 shares of company stock worth $32,036,638. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG opened at $169.81 on Friday. The company has a market cap of $2.06 trillion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock's 50 day simple moving average is $161.56 and its 200-day simple moving average is $176.09. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
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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