Winthrop Advisory Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,388 shares of the information services provider's stock after selling 2,097 shares during the quarter. Winthrop Advisory Group LLC's holdings in Alphabet were worth $2,844,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LVM Capital Management Ltd. MI raised its holdings in Alphabet by 3.9% in the first quarter. LVM Capital Management Ltd. MI now owns 143,385 shares of the information services provider's stock worth $22,173,000 after purchasing an additional 5,407 shares during the period. Somerset Trust Co raised its holdings in Alphabet by 30.2% in the first quarter. Somerset Trust Co now owns 7,972 shares of the information services provider's stock worth $1,233,000 after purchasing an additional 1,851 shares during the period. BTC Capital Management Inc. raised its holdings in Alphabet by 4.6% in the first quarter. BTC Capital Management Inc. now owns 162,964 shares of the information services provider's stock worth $25,181,000 after purchasing an additional 7,105 shares during the period. Legacy Financial Strategies LLC raised its holdings in Alphabet by 2.1% in the first quarter. Legacy Financial Strategies LLC now owns 6,439 shares of the information services provider's stock worth $996,000 after purchasing an additional 132 shares during the period. Finally, Doliver Advisors LP raised its holdings in shares of Alphabet by 123.4% during the first quarter. Doliver Advisors LP now owns 2,886 shares of the information services provider's stock worth $446,000 after acquiring an additional 1,594 shares during the period. 40.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. BMO Capital Markets restated an "outperform" rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities restated a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $199.75.
Read Our Latest Research Report on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock traded down $1.29 during midday trading on Tuesday, hitting $167.74. 24,776,768 shares of the company were exchanged, compared to its average volume of 29,967,410. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 20.84, a PEG ratio of 1.34 and a beta of 1.01. 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 firm's 50 day moving average price is $159.18 and its two-hundred day moving average price is $174.53. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 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 that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. 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 that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, 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 163,270 shares of company stock valued at $26,553,563 in the last quarter. Company insiders own 11.64% of the company's stock.
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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