Dupont Capital Management Corp Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dupont Capital Management Corp lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 210,576 shares of the information services provider’s stock after selling 13,622 shares during the period. Alphabet comprises about 3.6% of Dupont Capital Management Corp’s investment portfolio, making the stock its 5th biggest position. Dupont Capital Management Corp’s holdings in Alphabet were worth $32,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors grew its holdings in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after acquiring an additional 294,556 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 3.6%

NASDAQ:GOOG opened at $167.73 on Friday. The company has a 50-day moving average price of $166.31 and a 200-day moving average price of $176.39. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.23 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results 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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the company posted $1.89 EPS. Alphabet’s revenue was up 12.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. 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 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. Westpark Capital reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Finally, Citigroup reissued a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now directly owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 228,070 shares of company stock valued at $37,745,632 in the last three months. Company insiders own 12.99% of the company’s stock.

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.