Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,080 shares of the information services provider’s stock after selling 195 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Alphabet were worth $4,993,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at $15,441,917,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% during the fourth 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 shares of Alphabet by 39,754.9% during the fourth 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 purchasing an additional 6,010,548 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Alphabet by 130.2% during the fourth quarter. Cerity Partners LLC now owns 4,080,060 shares of the information services provider’s stock valued at $569,944,000 after purchasing an additional 2,307,801 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.2 %

Shares of NASDAQ GOOGL opened at $191.18 on Thursday. The business has a 50 day simple moving average of $176.95 and a 200 day simple moving average of $157.15. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $191.75. 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 stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the company earned $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOGL shares. TD Cowen raised their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group raised their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $215.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Finally, UBS Group lifted their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.06.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, 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. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.