Alphabet Inc. (NASDAQ:GOOGL) is Forbes J M & Co. LLP’s 6th Largest Position

Forbes J M & Co. LLP lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 219,202 shares of the information services provider’s stock after selling 1,807 shares during the period. Alphabet makes up approximately 3.6% of Forbes J M & Co. LLP’s investment portfolio, making the stock its 6th largest position. Forbes J M & Co. LLP’s holdings in Alphabet were worth $33,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC grew its position in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC grew its position in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.9 %

NASDAQ GOOGL opened at $179.63 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.85. The company has a market cap of $2.22 trillion, a PE ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. The stock has a 50 day moving average of $170.05 and a 200-day moving average of $152.72.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,458 shares of company stock valued at $26,375,053. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wolfe Research lifted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Susquehanna increased their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Loop Capital lifted their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research report on Tuesday, June 11th. Finally, Oppenheimer lifted their target price on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.26.

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.