Riverview Trust Co Buys 240 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Riverview Trust Co boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,758 shares of the information services provider’s stock after buying an additional 240 shares during the quarter. Alphabet makes up 0.9% of Riverview Trust Co’s portfolio, making the stock its 27th largest position. Riverview Trust Co’s holdings in Alphabet were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Meritage Group LP raised its holdings in shares of Alphabet by 1,061.5% in the 3rd 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 raised its holdings in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.1 %

Shares of GOOGL opened at $183.88 on Thursday. 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 $184.51. The firm has a 50-day moving average price of $171.13 and a 200 day moving average price of $153.36. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 28.22, a P/E/G ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced 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 company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the firm posted $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Loop Capital lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Roth Mkm lifted their price objective on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC boosted their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Morgan Stanley reissued an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Five research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.69.

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.