Sanibel Captiva Trust Company Inc. Sells 8,883 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sanibel Captiva Trust Company Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 1st quarter, Holdings Channel reports. The fund owned 196,944 shares of the information services provider’s stock after selling 8,883 shares during the quarter. Alphabet accounts for approximately 1.0% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 24th largest position. Sanibel Captiva Trust Company Inc.’s holdings in Alphabet were worth $30,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Curated Wealth Partners LLC grew its stake in shares of Alphabet by 10.0% during the 1st quarter. Curated Wealth Partners LLC now owns 13,534 shares of the information services provider’s stock worth $2,093,000 after acquiring an additional 1,229 shares during the period. Dividend Assets Capital LLC grew its stake in shares of Alphabet by 1.1% during the 1st quarter. Dividend Assets Capital LLC now owns 10,203 shares of the information services provider’s stock worth $1,578,000 after acquiring an additional 112 shares during the period. Ibex Wealth Advisors grew its stake in shares of Alphabet by 4.6% during the 1st quarter. Ibex Wealth Advisors now owns 67,623 shares of the information services provider’s stock worth $10,457,000 after acquiring an additional 2,973 shares during the period. Manitou Investment Management Ltd. grew its stake in shares of Alphabet by 15.5% during the 1st quarter. Manitou Investment Management Ltd. now owns 336,127 shares of the information services provider’s stock worth $51,979,000 after acquiring an additional 45,153 shares during the period. Finally, SJS Investment Consulting Inc. boosted its stake in Alphabet by 14.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 13,155 shares of the information services provider’s stock worth $2,034,000 after purchasing an additional 1,617 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $178.60 on Wednesday. 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 business’s 50 day simple moving average is $161.08 and its two-hundred day simple moving average is $174.49. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 22.19, 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.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for 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 in the previous year, the firm earned $1.89 EPS. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. 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 yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,770 shares of company stock worth $32,036,638. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.