Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Rockland Trust Co.

Rockland Trust Co. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,175 shares of the information services provider’s stock after selling 857 shares during the period. Alphabet comprises about 3.3% of Rockland Trust Co.’s portfolio, making the stock its 5th largest position. Rockland Trust Co.’s holdings in Alphabet were worth $64,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Compass Planning Associates Inc bought a new position in shares of Alphabet in the 4th quarter valued at about $30,000. PayPay Securities Corp boosted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Alphabet in the fourth quarter valued at approximately $49,000. Navigoe LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Alphabet during the 4th quarter worth approximately $53,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Bank of America lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Citigroup boosted their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Stock Down 0.6%

Shares of GOOGL opened at $174.67 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm’s 50 day moving average is $162.89 and its 200-day moving average is $174.61. The stock has a market capitalization of $2.12 trillion, a PE ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is owned by corporate insiders.

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.