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Physicians Financial Services Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,033 shares of the information services provider’s stock after selling 3,548 shares during the quarter. Alphabet makes up about 4.1% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 6th largest holding. Physicians Financial Services Inc.’s holdings in Alphabet were worth $12,531,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in Alphabet in the fourth quarter valued at $3,119,000. Cypress Capital LLC lifted its stake in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC raised its stake 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 valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,899 shares of company stock worth $38,459,044 over the last 90 days. Insiders own 11.55% of the company’s stock.
Alphabet Trading Down 0.2%
NASDAQ:GOOGL opened at $194.67 on Wednesday. The stock’s 50 day moving average price is $179.29 and its 200 day moving average price is $172.97. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market capitalization of $2.35 trillion, a P/E ratio of 20.73, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.53.
Check Out Our Latest Stock Analysis on Alphabet
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.
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