Sanibel Captiva Trust Company Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 617,887 shares of the information services provider's stock after selling 5,208 shares during the period. Alphabet accounts for about 3.1% of Sanibel Captiva Trust Company Inc.'s portfolio, making the stock its 4th biggest position. Sanibel Captiva Trust Company Inc.'s holdings in Alphabet were worth $96,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC boosted its holdings in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. Harvest Investment Services LLC boosted its holdings in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after purchasing an additional 138 shares in the last quarter. North Forty Two & Co. acquired a new stake in shares of Alphabet in the 4th quarter valued at $281,000. Finally, Fermata Advisors LLC boosted its holdings in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director now owns 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Insiders own 12.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GOOG. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, UBS Group cut their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $204.88.
Read Our Latest Research Report on Alphabet
Alphabet Stock Down 1.0%
Alphabet stock traded down $1.82 during midday trading on Thursday, reaching $176.97. The stock had a trading volume of 17,305,386 shares, compared to its average volume of 20,459,392. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market capitalization of $2.15 trillion, a P/E ratio of 21.98, a PEG ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average price of $163.98 and a two-hundred day moving average price of $176.27. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Alphabet Company Profile
(
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
