111 Capital Cuts Stake in Alphabet Inc. $GOOGL

Key Points

• 111 Capital reduced its holdings in Alphabet Inc. (NASDAQ: GOOGL) by 62% during the second quarter, now owning 16,353 shares valued at approximately $2.88 million.
• Several analysts have given Alphabet a positive outlook, with ratings ranging from "buy" to "market outperform" and target prices as high as $290.
• Insider selling has been notable, with CEO Sundar Pichai and Director Kavitark Ram Shriram selling a combined total of 51,066 shares recently.

111 Capital lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 62.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,353 shares of the information services provider's stock after selling 26,659 shares during the period. 111 Capital's holdings in Alphabet were worth $2,882,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock valued at $16,062,000 after purchasing an additional 9,900 shares during the last quarter. West Oak Capital LLC grew its stake in Alphabet by 4.2% in the first quarter. West Oak Capital LLC now owns 3,235 shares of the information services provider's stock valued at $500,000 after purchasing an additional 130 shares during the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in Alphabet in the first quarter valued at about $193,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOGL shares. HSBC started coverage on Alphabet in a research note on Tuesday, October 7th. They issued a "buy" rating and a $285.00 target price on the stock. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. JMP Securities raised their price target on Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a report on Friday, September 19th. Finally, Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $245.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is owned by company insiders.

Alphabet Trading Down 2.1%

Shares of NASDAQ:GOOGL opened at $236.57 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market capitalization of $2.86 trillion, a PE ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. The business has a 50 day moving average of $226.31 and a two-hundred day moving average of $188.66. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

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.

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