Coastline Trust Co decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 153,907 shares of the information services provider's stock after selling 3,483 shares during the quarter. Alphabet makes up approximately 3.4% of Coastline Trust Co's holdings, making the stock its 6th largest holding. Coastline Trust Co's holdings in Alphabet were worth $29,135,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of GOOGL. Bennett Selby Investments LP raised its stake in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC boosted its stake in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. grew its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after buying an additional 53 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Up 2.0 %
Shares of NASDAQ GOOGL traded up $3.07 during midday trading on Thursday, hitting $158.42. 14,323,655 shares of the stock traded hands, compared to its average volume of 32,786,879. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $1.93 trillion, a PE ratio of 19.68, a P/E/G ratio of 1.34 and a beta of 1.03. The business has a 50 day moving average price of $163.13 and a two-hundred day moving average price of $175.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio is currently 9.94%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on GOOGL. BMO Capital Markets restated an "outperform" rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Jefferies Financial Group decreased their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Cantor Fitzgerald cut their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company dropped their price objective on Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.64.
View Our Latest Research Report on GOOGL
Insider Activity
In other Alphabet news, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company's stock, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 over the last three months. Corporate insiders own 11.55% of the company's stock.
About Alphabet
(
Free Report)
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.
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