Alphabet Inc. (NASDAQ:GOOGL) Holdings Lifted by Perkins Coie Trust Co

Perkins Coie Trust Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,940 shares of the information services provider’s stock after purchasing an additional 541 shares during the period. Alphabet accounts for 2.4% of Perkins Coie Trust Co’s holdings, making the stock its 7th biggest holding. Perkins Coie Trust Co’s holdings in Alphabet were worth $10,103,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $15,441,917,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Alphabet during the 3rd quarter worth approximately $601,545,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s 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 of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,374 shares of company stock worth $24,548,073. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Morgan Stanley restated an “overweight” rating and set a $195.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Truist Financial increased their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Loop Capital increased their price target on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Wolfe Research increased their price target on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Alphabet Trading Up 2.7 %

Shares of NASDAQ GOOGL opened at $184.03 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $184.29. The business has a fifty day moving average price of $171.13 and a 200 day moving average price of $153.36.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.