Philadelphia Trust Co. Has $34.79 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Philadelphia Trust Co. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 249,056 shares of the information services provider’s stock after selling 509 shares during the quarter. Alphabet accounts for 3.3% of Philadelphia Trust Co.’s portfolio, making the stock its 5th biggest position. Philadelphia Trust Co.’s holdings in Alphabet were worth $34,791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sonata Capital Group Inc. raised its holdings in shares of Alphabet by 5.1% during the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock valued at $487,000 after acquiring an additional 180 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of Alphabet by 4.4% during the third quarter. Analyst IMS Investment Management Services Ltd. now owns 5,645 shares of the information services provider’s stock valued at $747,000 after acquiring an additional 240 shares in the last quarter. Bank of Stockton raised its holdings in shares of Alphabet by 1.6% during the third quarter. Bank of Stockton now owns 34,565 shares of the information services provider’s stock valued at $4,227,000 after acquiring an additional 529 shares in the last quarter. Prairie Sky Financial Group LLC purchased a new stake in Alphabet in the third quarter worth $259,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Alphabet by 37.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 53,609 shares of the information services provider’s stock worth $7,015,000 after purchasing an additional 14,542 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.8 %

Shares of NASDAQ:GOOGL opened at $174.99 on Friday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $178.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.31 and a beta of 1.02. The stock’s 50-day simple moving average is $160.81 and its two-hundred day simple moving average is $146.81.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. Analysts expect that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 205,935 shares of company stock valued at $31,178,987 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Jefferies Financial Group upped their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC upped their price target on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.57.

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.