Franklin Street Advisors Inc. NC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Franklin Street Advisors Inc. NC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,195 shares of the information services provider’s stock after acquiring an additional 450 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $4,859,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Meiji Yasuda Life Insurance Co increased its holdings in shares of Alphabet by 17.9% during the third quarter. Meiji Yasuda Life Insurance Co now owns 198,743 shares of the information services provider’s stock valued at $26,008,000 after acquiring an additional 30,128 shares in the last quarter. Waycross Partners LLC increased its holdings in shares of Alphabet by 4.9% during the third quarter. Waycross Partners LLC now owns 120,068 shares of the information services provider’s stock valued at $15,712,000 after acquiring an additional 5,659 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Alphabet by 4.1% during the third quarter. Asset Dedication LLC now owns 31,274 shares of the information services provider’s stock valued at $4,096,000 after acquiring an additional 1,239 shares in the last quarter. EPG Wealth Management LLC increased its holdings in shares of Alphabet by 4.6% during the third quarter. EPG Wealth Management LLC now owns 24,603 shares of the information services provider’s stock valued at $3,220,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Insight Holdings Group LLC increased its holdings in shares of Alphabet by 14.2% during the third quarter. Insight Holdings Group LLC now owns 328,400 shares of the information services provider’s stock valued at $42,974,000 after acquiring an additional 40,800 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.8 %

Shares of GOOGL stock opened at $182.15 on Friday. The stock’s fifty day moving average is $172.85 and its two-hundred day 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. The firm has a market capitalization 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 fifty-two week low of $115.35 and a fifty-two week high of $186.05.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday. Wells Fargo & Company increased their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Wolfe Research increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target (down previously from $182.00) on shares of Alphabet in a report on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $193.66.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 have sold a total of 146,284 shares of company stock worth $24,534,393 in the last quarter. Company insiders own 11.55% of the company’s stock.

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.