Crews Bank & Trust Has $4.06 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Crews Bank & Trust lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,271 shares of the information services provider’s stock after selling 90 shares during the quarter. Alphabet accounts for approximately 0.7% of Crews Bank & Trust’s investment portfolio, making the stock its 28th biggest position. Crews Bank & Trust’s holdings in Alphabet were worth $4,063,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors lifted 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 acquiring an additional 10,037,685 shares during the period. Finally, Northern Trust Corp lifted 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 acquiring an additional 10,135,430 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,306 shares of company stock worth $35,782,927 over the last ninety days. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Finally, DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.17.

Alphabet Price Performance

GOOGL stock opened at $170.68 on Thursday. The company has a fifty day moving average price of $165.45 and a 200-day moving average price of $174.58. The company has a market capitalization of $2.07 trillion, a P/E ratio of 19.03, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given 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 yield of 0.49%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.