Chapin Davis Inc. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Chapin Davis Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,840 shares of the information services provider’s stock after buying an additional 275 shares during the quarter. Chapin Davis Inc.’s holdings in Alphabet were worth $1,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Capital International Investors boosted its stake in Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after purchasing an additional 862,550 shares during the period. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $4,101,040,000. Charles Schwab Investment Management Inc. increased its position in shares of Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after buying an additional 481,376 shares during the period. Finally, Sanders Capital LLC lifted its holdings in shares of Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after buying an additional 813,428 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOG shares. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,026 shares of company stock worth $24,026,243. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG opened at $184.94 on Monday. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50. The stock has a 50-day moving average price of $174.40 and a 200-day moving average price of $155.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.