Bourgeon Capital Management LLC Sells 5,184 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bourgeon Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,645 shares of the information services provider’s stock after selling 5,184 shares during the period. Alphabet accounts for 3.3% of Bourgeon Capital Management LLC’s holdings, making the stock its 4th largest holding. Bourgeon Capital Management LLC’s holdings in Alphabet were worth $16,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake 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 acquiring an additional 6,374,756 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at $15,441,917,000. Fisher Asset Management LLC raised its stake in shares of Alphabet by 3.4% during the fourth 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 acquiring an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 2.6% during the fourth 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 acquiring an additional 874,919 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Alphabet by 2.3% during the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after acquiring an additional 686,514 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly 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. Over the last 90 days, insiders have sold 123,788 shares of company stock valued at $21,143,403. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. KeyCorp raised their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Loop Capital reissued a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Morgan Stanley reissued an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada lifted their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Get Our Latest Research Report on Alphabet

Alphabet Stock Up 2.6 %

Alphabet stock opened at $190.60 on Monday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $190.86. The stock has a market cap of $2.36 trillion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The firm’s 50-day simple moving average is $175.43 and its 200 day simple moving average is $156.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last released 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 $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations 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 company earned $1.17 earnings per share. Research analysts predict 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. Shareholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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