Traphagen Investment Advisors LLC Has $1.68 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Traphagen Investment Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,860 shares of the information services provider’s stock after buying an additional 543 shares during the period. Traphagen Investment Advisors LLC’s holdings in Alphabet were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC increased its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Susquehanna lowered their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Cantor Fitzgerald reduced their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.75.

Read Our Latest Research Report on Alphabet

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.5%

Shares of GOOGL stock opened at $175.95 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market cap of $2.14 trillion, a P/E ratio of 19.62, a P/E/G ratio of 1.13 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $163.88 and a two-hundred day simple moving average of $174.74.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results 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 net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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