64,134 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,134 shares of the information services provider's stock, valued at approximately $10,020,000. Alphabet accounts for approximately 1.9% of Smithbridge Asset Management Inc. DE's holdings, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter worth about $5,166,070,000. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $1,551,533,000. Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.6%

NASDAQ GOOG traded down $1.09 during trading on Friday, reaching $175.88. The company's stock had a trading volume of 20,848,122 shares, compared to its average volume of 20,479,029. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day moving average price of $163.98 and a 200-day moving average price of $176.27. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOG shares. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. KeyCorp decreased their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group decreased their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $204.88.

About Alphabet

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.