Sutton Place Investors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the information services provider's stock after selling 1,709 shares during the quarter. Sutton Place Investors LLC's holdings in Alphabet were worth $680,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $3,119,000. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the period. Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares during the period. Finally, Community Bank N.A. boosted its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on GOOGL shares. JMP Securities raised Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Bank of America increased their price target on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $199.61.
Check Out Our Latest Stock Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet stock opened at $180.19 on Friday. The stock's fifty day moving average price is $170.32 and its two-hundred day moving average price is $173.46. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap 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.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 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.
See Also
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