Alphabet Inc. (NASDAQ:GOOGL) is Chapin Davis Inc.’s 7th Largest Position

Chapin Davis Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,845 shares of the information services provider’s stock after selling 2,860 shares during the period. Alphabet makes up 2.2% of Chapin Davis Inc.’s portfolio, making the stock its 7th biggest position. Chapin Davis Inc.’s holdings in Alphabet were worth $6,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $38,000. Richardson Capital Management LLC lifted its stake in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. Armor Investment Advisors LLC lifted its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $195.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Susquehanna upped their price objective on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Oppenheimer upped their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Argus upped their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group upped their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.66.

Insider Activity

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 transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the 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 completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,788 shares of company stock worth $21,143,403. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $185.82 on Friday. The stock has a fifty day moving average price of $174.46 and a two-hundred day moving average price of $155.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.30 trillion, a P/E ratio of 28.50, a PEG ratio of 1.39 and a beta of 1.05. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.09.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.