Ervin Investment Management LLC Has $5.89 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ervin Investment Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,999 shares of the information services provider’s stock after selling 1,585 shares during the quarter. Alphabet makes up about 4.1% of Ervin Investment Management LLC’s portfolio, making the stock its 7th biggest holding. Ervin Investment Management LLC’s holdings in Alphabet were worth $5,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Norges Bank bought a new stake in Alphabet in the 4th quarter valued at $15,441,917,000. Fisher Asset Management LLC boosted its stake in Alphabet by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after acquiring an additional 874,919 shares during the period. Finally, Capital International Investors lifted its position in shares of Alphabet by 2.3% during the 4th quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after acquiring an additional 686,514 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOGL opened at $182.15 on Friday. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a PEG ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The business’s 50 day simple moving average is $172.85 and its two-hundred day simple moving average is $154.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate 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 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, Wolfe Research upped their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $193.66.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the 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 directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Company 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.