Duncker Streett & Co. Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,397 shares of the information services provider’s stock after selling 1,231 shares during the period. Alphabet comprises about 2.5% of Duncker Streett & Co. Inc.’s portfolio, making the stock its 7th largest holding. Duncker Streett & Co. Inc.’s holdings in Alphabet were worth $12,433,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC lifted its stake in shares of Alphabet by 9.8% during the 4th 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% during the 1st 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 during the period. Northern Trust Corp grew its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a report on Wednesday. Morgan Stanley decreased their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Piper Sandler increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Citigroup reissued a “buy” rating and issued a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Ten equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.17.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock worth $35,764,898 over the last ninety days. Insiders own 11.64% of the company’s stock.
Alphabet Stock Up 1.7%
Shares of NASDAQ GOOGL opened at $173.54 on Friday. The company has a 50 day simple moving average of $165.90 and a 200 day simple moving average of $174.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.11 trillion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid 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 payout ratio is currently 9.36%.
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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