Grimes & Company Inc. Has $26.58 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Grimes & Company Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 176,121 shares of the information services provider’s stock after purchasing an additional 2,727 shares during the quarter. Alphabet makes up 0.8% of Grimes & Company Inc.’s investment portfolio, making the stock its 25th largest holding. Grimes & Company Inc.’s holdings in Alphabet were worth $26,582,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. PointState Capital LP acquired a new position in shares of Alphabet during the 3rd quarter worth about $28,651,000. 3G Capital Partners LP lifted its holdings in shares of Alphabet by 141.7% during the third quarter. 3G Capital Partners LP now owns 72,500 shares of the information services provider’s stock worth $9,487,000 after buying an additional 42,500 shares during the last quarter. Karani Asset Management LLC lifted its holdings in shares of Alphabet by 97.4% during the third quarter. Karani Asset Management LLC now owns 13,621 shares of the information services provider’s stock worth $1,782,000 after buying an additional 6,720 shares during the last quarter. Dempze Nancy E boosted its position in shares of Alphabet by 0.5% in the third quarter. Dempze Nancy E now owns 33,595 shares of the information services provider’s stock valued at $4,396,000 after acquiring an additional 165 shares during the period. Finally, Northeast Financial Consultants Inc grew its stake in shares of Alphabet by 1.9% in the third quarter. Northeast Financial Consultants Inc now owns 183,695 shares of the information services provider’s stock worth $24,038,000 after acquiring an additional 3,456 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. Evercore ISI increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Barclays lifted their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Loop Capital boosted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Price Performance

Shares of GOOGL stock opened at $185.24 on Wednesday. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $173.38 and its 200-day moving average is $154.80. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for 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 quarter in the prior year, the business earned $1.17 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock worth $21,143,403 over the last three months. 11.55% of the stock is currently owned by company insiders.

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.