Court Place Advisors LLC Has $2.88 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Court Place Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,646 shares of the information services provider’s stock after selling 409 shares during the period. Alphabet comprises approximately 1.0% of Court Place Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Court Place Advisors LLC’s holdings in Alphabet were worth $2,883,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at approximately $28,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter valued at $49,000. Navigoe LLC bought a new position in Alphabet during the 4th quarter worth $51,000. Elite Financial Inc. acquired a new position in shares of Alphabet in the first quarter worth approximately $42,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOGL shares. Rosenblatt Securities restated a “neutral” rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. BNP Paribas Exane reissued a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Finally, Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $199.82.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,943 shares of company stock valued at $31,223,348. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.2%

NASDAQ GOOGL opened at $182.00 on Wednesday. The business’s fifty day moving average is $171.04 and its 200-day moving average is $173.13. 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 price-to-earnings ratio of 20.29, a PEG ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) 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.