Philadelphia Trust Co. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Philadelphia Trust Co. lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,842 shares of the information services provider's stock after selling 1,769 shares during the quarter. Alphabet comprises about 0.8% of Philadelphia Trust Co.'s portfolio, making the stock its 28th largest position. Philadelphia Trust Co.'s holdings in Alphabet were worth $11,396,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in Alphabet during the fourth quarter valued at $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter worth about $43,000. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,663 shares of company stock worth $20,286,447. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Westpark Capital assumed coverage on Alphabet in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.71.

Alphabet Price Performance

Shares of GOOG stock traded down $1.64 during trading hours on Wednesday, reaching $157.04. The company's stock had a trading volume of 7,069,552 shares, compared to its average volume of 19,348,080. The firm's 50 day simple moving average is $169.17 and its 200-day simple moving average is $177.83. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

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.