Alphabet Inc. (NASDAQ:GOOGL) Holdings Reduced by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,843 shares of the information services provider’s stock after selling 564 shares during the period. Alphabet makes up approximately 5.3% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 4th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Alphabet were worth $14,821,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOOGL. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. FMR LLC increased its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Northern Trust Corp increased its position in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.2%

Shares of NASDAQ GOOGL opened at $182.00 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $2.21 trillion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business has a fifty day moving average price of $171.04 and a 200 day moving average price of $173.13.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid 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 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Tigress Financial boosted their target price on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, Roth Capital reissued a “buy” rating and set a $205.00 target price (up previously from $180.00) on shares of Alphabet in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.82.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were 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 in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,943 shares of company stock worth $31,223,348. 11.55% of the stock is owned by insiders.

About Alphabet

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.