24,451 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Sfm LLC

Sfm LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,451 shares of the information services provider's stock, valued at approximately $3,781,000. Alphabet accounts for 2.8% of Sfm LLC's investment portfolio, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Macroview Investment Management LLC grew its stake in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after acquiring an additional 52 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the last quarter. Burt Wealth Advisors boosted its position in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after buying an additional 54 shares during the last quarter. Finally, Perritt Capital Management Inc increased its holdings in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. KeyCorp lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald reduced their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Morgan Stanley reduced their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, DA Davidson reduced their price objective on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $176.77 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock's 50 day simple moving average is $163.53 and its two-hundred day simple moving average is $174.74. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's payout ratio is presently 9.36%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the transaction, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is currently owned by insiders.

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.

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