Mcdaniel Terry & Co. Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Mcdaniel Terry & Co. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,007 shares of the information services provider’s stock after purchasing an additional 479 shares during the quarter. Mcdaniel Terry & Co.’s holdings in Alphabet were worth $2,321,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth $30,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $57,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GOOGL shares. Citigroup reiterated a “buy” rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Bank of America boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. DA Davidson decreased their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.95.

Alphabet Stock Up 0.2%

NASDAQ:GOOGL opened at $179.08 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock’s fifty day moving average is $168.36 and its two-hundred day moving average is $174.08. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth 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 (NASDAQ:GOOGL) last posted 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio 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.