Dorsey & Whitney Trust CO LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Dorsey & Whitney Trust CO LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,833 shares of the information services provider’s stock after buying an additional 2,907 shares during the period. Alphabet makes up approximately 1.2% of Dorsey & Whitney Trust CO LLC’s investment portfolio, making the stock its 15th largest holding. Dorsey & Whitney Trust CO LLC’s holdings in Alphabet were worth $21,549,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Naviter Wealth LLC boosted its position in Alphabet by 63.0% in the fourth quarter. Naviter Wealth LLC now owns 92,836 shares of the information services provider’s stock valued at $17,574,000 after buying an additional 35,871 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its holdings in Alphabet by 2.8% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 40,157 shares of the information services provider’s stock valued at $7,602,000 after acquiring an additional 1,075 shares during the period. Capital Management Corp VA lifted its holdings in Alphabet by 3.1% in the fourth quarter. Capital Management Corp VA now owns 43,979 shares of the information services provider’s stock valued at $8,325,000 after acquiring an additional 1,303 shares during the period. Rialto Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $377,000. Finally, Hamilton Capital Partners LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $12,948,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.7 %

Shares of GOOGL opened at $162.80 on Friday. Alphabet Inc. has a 12-month low of $146.90 and a 12-month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.34 and a beta of 1.02. The stock’s 50-day moving average price is $183.13 and its 200 day moving average price is $176.37.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday. Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Piper Sandler reduced their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

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.