Chelsea Counsel Co. Has $7.74 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Chelsea Counsel Co. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,308 shares of the information services provider’s stock after selling 1,395 shares during the quarter. Alphabet comprises 4.4% of Chelsea Counsel Co.’s investment portfolio, making the stock its 5th largest holding. Chelsea Counsel Co.’s holdings in Alphabet were worth $7,744,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Keynote Financial Services LLC acquired a new stake in Alphabet in the 1st quarter worth approximately $2,154,000. IMS Capital Management lifted its holdings in Alphabet by 22.7% in the 1st quarter. IMS Capital Management now owns 12,385 shares of the information services provider’s stock worth $1,869,000 after purchasing an additional 2,295 shares during the last quarter. Jackson Wealth Management LLC lifted its holdings in Alphabet by 6.7% in the 1st quarter. Jackson Wealth Management LLC now owns 45,907 shares of the information services provider’s stock worth $6,929,000 after purchasing an additional 2,886 shares during the last quarter. OMC Financial Services LTD acquired a new position in shares of Alphabet during the first quarter worth approximately $4,227,000. Finally, Hamilton Wealth LLC lifted its holdings in shares of Alphabet by 4.4% during the first quarter. Hamilton Wealth LLC now owns 127,828 shares of the information services provider’s stock worth $19,293,000 after buying an additional 5,423 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the completion of the transaction, the director now owns 4,391 shares in the company, valued at $738,039.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the completion of the transaction, the director now directly owns 4,391 shares of the company’s stock, valued at approximately $738,039.28. The disclosure for this sale can be found here. Insiders sold 99,808 shares of company stock valued at $17,732,125 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.1 %

Shares of GOOGL traded up $0.15 on Tuesday, hitting $159.40. The company’s stock had a trading volume of 22,180,869 shares, compared to its average volume of 28,140,625. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.28 and a beta of 1.05. The firm’s fifty day moving average price is $178.11 and its 200-day moving average price is $161.69. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the business earned $1.44 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Loop Capital reiterated a “hold” rating and set a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Susquehanna upped their target price on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Finally, Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

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.