Riverview Trust Co Has $1.02 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Riverview Trust Co lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 16.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,586 shares of the information services provider’s stock after selling 1,278 shares during the period. Alphabet makes up 1.0% of Riverview Trust Co’s portfolio, making the stock its 21st biggest position. Riverview Trust Co’s holdings in Alphabet were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. increased its holdings in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares during the last quarter. Capital & Planning LLC increased its holdings in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after buying an additional 1,119 shares during the last quarter. Eagle Capital Management LLC increased its holdings in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.1%

Shares of GOOGL stock opened at $168.21 on Friday. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a fifty day moving average price of $159.81 and a 200 day moving average price of $174.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Needham & Company LLC reiterated a “buy” rating and set a $178.00 price target on shares of Alphabet in a report on Friday, April 25th. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, DA Davidson lowered their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.