Crown Wealth Group LLC Sells 769 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crown Wealth Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,713 shares of the information services provider’s stock after selling 769 shares during the quarter. Alphabet accounts for approximately 1.5% of Crown Wealth Group LLC’s portfolio, making the stock its 16th largest position. Crown Wealth Group LLC’s holdings in Alphabet were worth $2,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at about $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% in 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 buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 16,993.2% in 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 buying an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its holdings in Alphabet by 17.0% in 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. Finally, Capital Research Global Investors lifted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Morgan Stanley decreased their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company increased their price objective on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on 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 owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $179.08 on Friday. The firm’s fifty day moving average price is $168.70 and its two-hundred day moving average price is $173.97. The stock has a market cap of $2.17 trillion, a PE ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Alphabet Company 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.