Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 417,534 shares of the information services provider’s stock after selling 11,773 shares during the quarter. Alphabet makes up about 4.5% of Norris Perne & French LLP MI’s holdings, making the stock its 2nd biggest position. Norris Perne & French LLP MI’s holdings in Alphabet were worth $63,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia increased its holdings in shares of Alphabet by 6.4% in the third quarter. Bank of Nova Scotia now owns 2,742,194 shares of the information services provider’s stock valued at $358,842,000 after purchasing an additional 165,662 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its position in Alphabet by 15.5% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,169,929 shares of the information services provider’s stock valued at $283,957,000 after buying an additional 291,334 shares during the last quarter. Fernbridge Capital Management LP increased its stake in Alphabet by 47.3% in the 3rd quarter. Fernbridge Capital Management LP now owns 319,086 shares of the information services provider’s stock valued at $41,756,000 after buying an additional 102,477 shares during the period. Cape Cod Five Cents Savings Bank raised its position in Alphabet by 99.2% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 23,892 shares of the information services provider’s stock worth $3,127,000 after buying an additional 11,897 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Alphabet by 9.8% in the 3rd quarter. CWA Asset Management Group LLC now owns 44,798 shares of the information services provider’s stock worth $5,862,000 after acquiring an additional 4,010 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.5 %

NASDAQ:GOOGL opened at $182.99 on Tuesday. 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 company has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05. The stock has a 50-day simple moving average of $172.85 and a 200 day simple moving average of $154.44.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The business 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 period in the prior year, the company posted $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal 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 issued 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their price target on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday. Finally, Bank of America reissued a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction 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 business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 142,344 shares of company stock valued at $23,920,676 in the last quarter. Insiders own 11.55% of the company’s stock.

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.