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Arlington Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,364 shares of the information services provider’s stock after selling 2,903 shares during the period. Arlington Partners LLC’s holdings in Alphabet were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in GOOGL. Wealth Group Ltd. raised its holdings in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC raised its holdings in shares of Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after acquiring an additional 1,119 shares during the last quarter. Eagle Capital Management LLC raised its holdings in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet in the 4th quarter worth about $154,716,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Stock Up 2.9%
Shares of GOOGL stock opened at $178.53 on Monday. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.90, a P/E/G ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a 50 day moving average of $166.45 and a 200 day moving average of $174.26. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.
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, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on GOOGL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, Mizuho reduced their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.95.
Get Our Latest Stock Report on Alphabet
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were 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 in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,195 shares of company stock worth $35,764,898. 11.55% of the stock is owned by corporate insiders.
Alphabet Profile
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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