Alphabet Inc. $GOOGL Shares Sold by Aaron Wealth Advisors LLC

Key Points

• Aaron Wealth Advisors LLC reduced its Alphabet stake by 8.6% in the first quarter, selling 7,239 shares and leaving it with 77,406 shares valued at about $22.3 million.
• Alphabet reported stronger-than-expected quarterly results, with EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion versus forecasts of $106.98 billion.
• The company recently raised its quarterly dividend to $0.22 per share from $0.21, while analysts overall remain constructive with a consensus rating of Moderate Buy and an average price target of $413.90.

Aaron Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,406 shares of the information services provider's stock after selling 7,239 shares during the quarter. Alphabet makes up 1.3% of Aaron Wealth Advisors LLC's investment portfolio, making the stock its 15th largest position. Aaron Wealth Advisors LLC's holdings in Alphabet were worth $22,259,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its position in shares of Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank boosted its stake in shares of Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after buying an additional 3,120 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,465 shares of company stock worth $8,020,511 in the last quarter. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.1%

NASDAQ:GOOGL opened at $361.21 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $370.08 and a 200-day moving average of $333.88. The firm has a market capitalization of $4.38 trillion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Alphabet Inc. has a 52 week low of $172.77 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's payout ratio is currently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. HSBC reissued a "buy" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Wolfe Research cut their target price on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research note on Friday, April 10th. Finally, Rothschild & Co Redburn increased their price target on shares of Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $413.90.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.