Grandfield & Dodd LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Grandfield & Dodd LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the 1st quarter, Holdings Channel reports. The fund owned 20,130 shares of the information services provider’s stock after buying an additional 1,135 shares during the quarter. Grandfield & Dodd LLC’s holdings in Alphabet were worth $3,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet during the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,488 shares of company stock valued at $25,217,405. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.38.

Alphabet Stock Down 0.2 %

Shares of NASDAQ GOOG traded down $0.38 on Friday, reaching $186.92. 2,872,421 shares of the company’s stock traded hands, compared to its average volume of 20,618,479. Alphabet Inc. has a 12 month low of $118.68 and a 12 month high of $193.31. The business’s 50 day simple moving average is $178.83 and its two-hundred day simple moving average is $158.76. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.