Simmons Bank lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,672 shares of the information services provider's stock after selling 1,623 shares during the period. Alphabet comprises about 1.1% of Simmons Bank's portfolio, making the stock its 17th largest holding. Simmons Bank's holdings in Alphabet were worth $14,949,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Macroview Investment Management LLC increased its stake in Alphabet by 77.0% during the 1st quarter. Macroview Investment Management LLC now owns 2,288 shares of the information services provider's stock worth $354,000 after buying an additional 995 shares in the last quarter. Elite Financial Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $42,000. World Investment Advisors boosted its holdings in shares of Alphabet by 3.5% during the 1st quarter. World Investment Advisors now owns 227,660 shares of the information services provider's stock worth $35,205,000 after purchasing an additional 7,756 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Alphabet by 15.2% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 59,424 shares of the information services provider's stock worth $9,189,000 after purchasing an additional 7,824 shares during the last quarter. Finally, Wayfinding Financial LLC boosted its holdings in shares of Alphabet by 3.9% during the 1st quarter. Wayfinding Financial LLC now owns 4,390 shares of the information services provider's stock worth $679,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a report on Tuesday. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. BMO Capital Markets reiterated an "outperform" rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, Tigress Financial upped their price objective on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $199.61.
Check Out Our Latest Analysis on Alphabet
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last quarter. 11.64% of the stock is owned by insiders.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $180.19 on Friday. The firm has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.00. The business's fifty day moving average price is $170.32 and its 200 day moving average price is $173.46. 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. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 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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