Dynamic Advisor Solutions LLC Has $20.99 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Dynamic Advisor Solutions LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,712 shares of the information services provider’s stock after selling 1,520 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Alphabet were worth $20,987,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Alphabet in the 4th quarter valued at approximately $24,383,677,000. FMR LLC boosted its position in 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 purchasing an additional 22,100,902 shares during the period. GAMMA Investing LLC grew its holdings in 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 valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 17.0% in 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 period. Finally, Capital Research Global Investors lifted its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $174.67 on Monday. The stock has a 50-day simple moving average of $162.89 and a 200 day simple moving average of $174.68. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company 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 business earned $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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 given 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 (DPR) is presently 9.36%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Citigroup increased their target price on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Finally, UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.