Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Chase Investment Counsel Corp

Chase Investment Counsel Corp trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 53.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,102 shares of the information services provider’s stock after selling 31,858 shares during the period. Alphabet accounts for approximately 1.6% of Chase Investment Counsel Corp’s holdings, making the stock its 18th biggest position. Chase Investment Counsel Corp’s holdings in Alphabet were worth $4,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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. Norges Bank acquired a new position in Alphabet during the 4th quarter valued at about $15,441,917,000. Fisher Asset Management LLC boosted its stake in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after purchasing an additional 874,919 shares during the period. Finally, Capital International Investors boosted its stake in Alphabet by 2.3% during the 4th quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after purchasing an additional 686,514 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.3 %

Alphabet stock opened at $185.07 on Monday. 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 $2.29 trillion, a PE ratio of 28.39, a P/E/G ratio of 1.39 and a beta of 1.05. Alphabet Inc. has a twelve month low of $118.22 and a twelve month high of $191.75. The firm’s 50 day moving average price is $177.69 and its two-hundred day moving average price is $157.89.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. TD Cowen boosted their target price on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Canaccord Genuity Group upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Wedbush upped their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.06.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were 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 of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 122,988 shares of company stock valued at $21,015,755 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.