Violich Capital Management Inc. Buys 8,620 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Violich Capital Management Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,165 shares of the information services provider’s stock after buying an additional 8,620 shares during the quarter. Alphabet accounts for approximately 7.0% of Violich Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Violich Capital Management Inc.’s holdings in Alphabet were worth $48,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M. Kraus & Co increased its position in shares of Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after acquiring an additional 66 shares in the last quarter. Wynn Capital LLC grew its holdings in Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after purchasing an additional 67 shares in the last quarter. Aire Advisors LLC grew its holdings in Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its holdings in Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after acquiring an additional 68 shares in the last quarter. Finally, Fiduciary Planning LLC grew its holdings in Alphabet by 0.7% during the 1st quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock worth $1,391,000 after acquiring an additional 68 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $188.98 on Wednesday. The firm’s 50 day moving average is $176.41 and its 200-day moving average is $156.91. The stock has a market capitalization of $2.34 trillion, a P/E ratio of 28.98, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $191.36.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm posted $1.17 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Alphabet from $168.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Monday. KeyCorp raised their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Mizuho raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, June 28th. Finally, Loop Capital reiterated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $194.34.

Check Out Our Latest Stock Analysis on GOOGL

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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