West Coast Financial LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,205 shares of the information services provider's stock after selling 2,893 shares during the period. Alphabet accounts for 2.4% of West Coast Financial LLC's investment portfolio, making the stock its 8th biggest position. West Coast Financial LLC's holdings in Alphabet were worth $20,753,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Rockbridge Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at $3,119,000. Optivise Advisory Services LLC boosted its holdings in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. boosted its holdings in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its holdings in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC boosted its holdings in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 in the last three months. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
Shares of Alphabet stock traded up $5.47 on Friday, reaching $173.68. 35,701,262 shares of the company were exchanged, compared to its average volume of 30,162,270. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company's 50-day moving average is $160.14 and its two-hundred day moving average is $174.35. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the firm earned $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. UBS Group set a $195.00 target price on Alphabet in a report on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Roth Mkm restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Read Our Latest Report on GOOGL
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.
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