Whittier Trust Co. of Nevada Inc. Buys 3,198 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Whittier Trust Co. of Nevada Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,876 shares of the information services provider's stock after buying an additional 3,198 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Alphabet were worth $26,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter worth approximately $39,000. Anderson Financial Strategies LLC acquired a new position in Alphabet in the fourth quarter worth approximately $49,000. Navigoe LLC acquired a new position in Alphabet in the fourth quarter worth approximately $51,000. Finally, Elite Financial Inc. acquired a new position in Alphabet in the first quarter worth approximately $42,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 over the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Trading Up 0.5%

NASDAQ GOOGL traded up $1.01 during trading on Friday, reaching $193.18. 39,738,342 shares of the stock traded hands, compared to its average volume of 41,427,228. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The stock's 50-day moving average price is $175.77 and its 200 day moving average price is $172.93. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Piper Sandler increased their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday. Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.32.

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.