Alphabet Inc. (NASDAQ:GOOG) is Chilton Capital Management LLC’s 6th Largest Position

Chilton Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 395,970 shares of the information services provider’s stock after purchasing an additional 6,008 shares during the period. Alphabet makes up 2.7% of Chilton Capital Management LLC’s holdings, making the stock its 6th biggest position. Chilton Capital Management LLC’s holdings in Alphabet were worth $61,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. ARQ Wealth Advisors LLC boosted its stake in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after acquiring an additional 1,376 shares during the last quarter. Harvest Investment Services LLC boosted its stake in shares of Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after acquiring an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new stake in shares of Alphabet during the fourth quarter valued at $281,000. Finally, Fermata Advisors LLC boosted its stake in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.3%

Shares of NASDAQ GOOG opened at $180.22 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm’s 50-day simple moving average is $169.97 and its 200 day simple moving average is $175.40. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) 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. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.38.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director directly owned 261,966 shares of the company’s stock, valued at approximately $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 215,643 shares of company stock valued at $36,330,928 over the last 90 days. 12.99% of the stock is owned by company insiders.

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.