Chevy Chase Trust Holdings LLC Has $543.62 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Chevy Chase Trust Holdings LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,479,629 shares of the information services provider’s stock after selling 54,217 shares during the period. Alphabet makes up about 1.7% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 8th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $543,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the last quarter. LSV Asset Management bought a new position in Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.0%

Shares of Alphabet stock opened at $167.74 on Wednesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.17 and a beta of 1.01. The company has a 50-day moving average of $166.58 and a 200 day moving average of $176.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed 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 represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

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.