Spinnaker Trust Acquires 450 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Spinnaker Trust boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,416 shares of the information services provider’s stock after acquiring an additional 450 shares during the period. Spinnaker Trust’s holdings in Alphabet were worth $7,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Group Ltd. boosted its holdings in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Eagle Capital Management LLC raised its position in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC raised its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Alphabet in the 4th quarter worth approximately $154,716,000. Finally, Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.2%

Alphabet stock opened at $179.08 on Friday. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company’s 50-day moving average price is $168.70 and its two-hundred day moving average price is $173.87.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the firm earned $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Stifel Nicolaus dropped their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Wedbush set a $190.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.95.

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.