Sanibel Captiva Trust Company Inc. Has $30.46 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sanibel Captiva Trust Company Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,944 shares of the information services provider's stock after selling 8,883 shares during the period. Alphabet accounts for about 1.0% of Sanibel Captiva Trust Company Inc.'s investment portfolio, making the stock its 24th biggest holding. Sanibel Captiva Trust Company Inc.'s holdings in Alphabet were worth $30,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Macroview Investment Management LLC raised its holdings in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares in the last quarter. Addison Advisors LLC grew its position in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares in the last quarter. Burt Wealth Advisors lifted its stake in Alphabet by 1.0% during the fourth 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 period. Finally, Perritt Capital Management Inc lifted its stake in Alphabet by 10.4% during the fourth 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 period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 0.9%

Alphabet stock traded down $1.65 during mid-day trading on Thursday, reaching $175.70. 20,879,613 shares of the company's stock were exchanged, compared to its average volume of 30,364,109. The company has a market cap of $2.13 trillion, a P/E ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $162.29 and a 200-day moving average of $174.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given 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 is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GOOGL shares. Piper Sandler lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Finally, KeyCorp increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock valued at $32,003,532. Insiders own 11.64% of the company's stock.

Alphabet 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.