Dorsey & Whitney Trust CO LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Dorsey & Whitney Trust CO LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,242 shares of the information services provider’s stock after selling 3,090 shares during the period. Alphabet comprises 1.0% of Dorsey & Whitney Trust CO LLC’s portfolio, making the stock its 22nd largest holding. Dorsey & Whitney Trust CO LLC’s holdings in Alphabet were worth $14,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Capital Research Global Investors boosted its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% during 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. Public Employees Retirement Association of Colorado increased its holdings in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Alphabet by 91.0% in the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOGL. TD Securities boosted their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Down 1.1 %

Shares of Alphabet stock opened at $161.85 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a 50 day moving average of $164.23 and a 200 day moving average of $165.98. The company has a market capitalization of $2.00 trillion, a P/E ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company earned $1.44 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were 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 in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,167 shares of company stock worth $29,762,606. Corporate 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.