Chesley Taft & Associates LLC Has $72.95 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Chesley Taft & Associates LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 479,093 shares of the information services provider’s stock after selling 123 shares during the quarter. Alphabet accounts for about 3.7% of Chesley Taft & Associates LLC’s holdings, making the stock its 2nd biggest holding. Chesley Taft & Associates LLC’s holdings in Alphabet were worth $72,947,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Shulman DeMeo Asset Management LLC grew its stake in Alphabet by 23.0% during the 1st quarter. Shulman DeMeo Asset Management LLC now owns 2,673 shares of the information services provider’s stock worth $407,000 after buying an additional 500 shares during the last quarter. Prairie Sky Financial Group LLC boosted its holdings in Alphabet by 0.9% during the first quarter. Prairie Sky Financial Group LLC now owns 30,391 shares of the information services provider’s stock worth $4,627,000 after buying an additional 271 shares in the last quarter. Colorado Capital Management Inc. acquired a new position in Alphabet in the first quarter worth approximately $1,399,000. Cardinal Capital Management lifted its position in shares of Alphabet by 3.0% during the 1st quarter. Cardinal Capital Management now owns 14,745 shares of the information services provider’s stock valued at $2,245,000 after acquiring an additional 435 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 353,701 shares of the information services provider’s stock worth $53,855,000 after acquiring an additional 1,176 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,284 shares of company stock worth $24,534,393. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOG shares. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

Shares of GOOG stock traded up $1.49 during trading on Thursday, reaching $186.86. The company had a trading volume of 13,007,982 shares, compared to its average volume of 21,299,447. The firm’s 50 day simple moving average is $173.26 and its two-hundred day simple moving average is $154.97. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.31 trillion, a PE ratio of 28.66, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet 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.