Penn Davis Mcfarland Inc. Has $26.83 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Penn Davis Mcfarland Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 173,486 shares of the information services provider’s stock after acquiring an additional 296 shares during the period. Alphabet makes up 3.2% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 13th biggest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $26,828,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the 4th quarter valued at $30,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the fourth quarter worth about $49,000. Navigoe LLC acquired a new stake in Alphabet in the fourth quarter worth about $51,000. Prudent Man Investment Management Inc. bought a new stake in Alphabet during the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. acquired a new position in Alphabet during the 4th quarter valued at about $57,000. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction 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 completion of the sale, the director now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s 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 sale, the chief executive officer now directly owns 2,555,196 shares of the company’s stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,195 shares of company stock worth $35,764,898. 11.64% of the stock is owned by insiders.

Alphabet Trading Up 2.9%

Shares of NASDAQ:GOOGL opened at $178.53 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.17 trillion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The company has a 50-day simple moving average of $166.45 and a 200 day simple moving average of $174.38.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. Susquehanna decreased their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Finally, Bank of America increased their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $199.95.

About Alphabet

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.