Alphabet Inc. $GOOG Shares Sold by Titan Global Capital Management USA LLC

Key Points

• Titan Global Capital Management USA LLC reduced its holdings in Alphabet Inc. by 13.7% during the first quarter, owning 125,289 shares after selling 19,903 shares, which makes up about 4.0% of their portfolio.
• Alphabet Inc. reported earnings per share of $2.31 for the last quarter, exceeding analysts' expectations, with revenues of $96.43 billion, representing a 13.8% increase year-over-year.
• The company has announced a quarterly dividend of $0.21 per share, with a yield of 0.4%, and the dividend payout ratio currently stands at 8.95%.

Titan Global Capital Management USA LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,289 shares of the information services provider's stock after selling 19,903 shares during the period. Alphabet comprises approximately 4.0% of Titan Global Capital Management USA LLC's portfolio, making the stock its 10th largest position. Titan Global Capital Management USA LLC's holdings in Alphabet were worth $19,574,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter worth $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter worth $32,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in shares of Alphabet during the first quarter worth $34,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,719 shares of company stock valued at $47,223,172. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.2%

NASDAQ GOOG opened at $200.62 on Friday. The stock has a market capitalization of $2.43 trillion, a P/E ratio of 21.37, a P/E/G ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm has a 50-day moving average price of $187.09 and a 200 day moving average price of $174.87. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend 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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