Accredited Investors Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,797 shares of the information services provider's stock after selling 1,480 shares during the quarter. Accredited Investors Inc.'s holdings in Alphabet were worth $2,288,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Mystic Asset Management Inc. increased its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its holdings in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $3,119,000. Cypress Capital LLC grew its holdings in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC grew its holdings in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Trading Down 1.4%
GOOGL traded down $2.77 during trading on Friday, reaching $189.13. 34,777,882 shares of the company's stock were exchanged, compared to its average volume of 38,669,572. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a P/E/G ratio of 1.30 and a beta of 1.01. 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 company's fifty day moving average price is $178.32 and its 200-day moving average price is $173.12.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.
Wall Street Analyst Weigh In
Several research firms have recently commented on GOOGL. Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. DA Davidson boosted their price objective on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein upped their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.39.
Read Our Latest Stock Report on Alphabet
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $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. Company insiders own 11.64% of the company's stock.
About Alphabet
(
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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