Dorsey & Whitney Trust CO LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Dorsey & Whitney Trust CO LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,654 shares of the information services provider’s stock after selling 5,193 shares during the period. Alphabet comprises 2.1% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 6th largest position. Dorsey & Whitney Trust CO LLC’s holdings in Alphabet were worth $30,095,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Woodward Diversified Capital LLC raised its position in shares of Alphabet by 0.7% in the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock valued at $1,311,000 after purchasing an additional 62 shares during the period. Intergy Private Wealth LLC lifted its position in shares of Alphabet by 1.9% during the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after acquiring an additional 63 shares in the last quarter. Smith Anglin Financial LLC lifted its position in shares of Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after acquiring an additional 64 shares in the last quarter. Biechele Royce Advisors boosted its holdings in shares of Alphabet by 3.0% in the first quarter. Biechele Royce Advisors now owns 2,260 shares of the information services provider’s stock worth $345,000 after acquiring an additional 65 shares during the period. Finally, Fiduciary Alliance LLC grew its position in shares of Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. 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 stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,988 shares of company stock valued at $26,068,355. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Finally, Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $174.38.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.17 during midday trading on Friday, hitting $179.39. The company had a trading volume of 14,467,066 shares, compared to its average volume of 20,494,764. The company has a market capitalization of $2.22 trillion, a PE ratio of 27.51, a P/E/G ratio of 1.37 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 Inc. has a 52-week low of $118.68 and a 52-week high of $193.31. The stock’s fifty day moving average price is $180.37 and its 200-day moving average price is $160.51.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.