Alphabet Inc. (NASDAQ:GOOG) Holdings Increased by CCLA Investment Management

CCLA Investment Management grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,116,262 shares of the information services provider’s stock after purchasing an additional 7,370 shares during the period. Alphabet comprises approximately 2.6% of CCLA Investment Management’s holdings, making the stock its 3rd largest holding. CCLA Investment Management’s holdings in Alphabet were worth $169,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders sold 146,988 shares of company stock valued at $26,068,355 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $174.38.

Alphabet Stock Up 0.1 %

NASDAQ GOOG traded up $0.17 during trading on Friday, hitting $179.39. The company’s stock had a trading volume of 14,485,899 shares, compared to its average volume of 15,891,877. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.22 trillion, a PE ratio of 27.51, a P/E/G ratio of 1.34 and a beta of 1.05. The business’s 50 day simple moving average is $180.37 and its 200-day simple moving average is $160.51. Alphabet Inc. has a fifty-two week low of $118.68 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 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.