Accredited Investors Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,797 shares of the information services provider's stock after selling 1,480 shares during the period. Accredited Investors Inc.'s holdings in Alphabet were worth $2,288,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Perritt Capital Management Inc grew its stake in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Nia Impact Advisors LLC grew its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. grew its stake in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the period. Enzi Wealth grew its position in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Finally, Whipplewood Advisors LLC grew its position in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on GOOGL shares. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Rosenblatt Securities increased their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Citigroup upped their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Truist Financial reissued a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.39.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL traded down $2.77 during mid-day trading on Friday, hitting $189.13. 34,777,882 shares of the company traded hands, compared to its average volume of 37,170,977. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50-day moving average price of $177.91 and a two-hundred day moving average price of $173.12. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.33 and a beta of 1.00.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,399 shares of company stock valued at $43,525,794. Insiders own 11.64% of the company's stock.
About Alphabet
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Free Report)
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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