Perkins Coie Trust Co Has $9.51 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Perkins Coie Trust Co grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,498 shares of the information services provider’s stock after acquiring an additional 134 shares during the quarter. Alphabet accounts for about 2.2% of Perkins Coie Trust Co’s investment portfolio, making the stock its 9th largest holding. Perkins Coie Trust Co’s holdings in Alphabet were worth $9,510,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp boosted its position in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Piper Sandler increased their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research 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 research report on Friday, April 25th. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Roth Mkm reissued a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $173.68 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s fifty day moving average price is $160.14 and its two-hundred day moving average price is $174.34. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

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.