Alphabet Inc. $GOOGL Shares Sold by Fiduciary Management Inc. WI

Key Points

• Fiduciary Management Inc. WI reduced its stake in Alphabet Inc. by 3.4%, now holding about 1,362,721 shares valued at $210.73 million, making it the 15th largest position in their portfolio.
• Alphabet recently reported earnings of $2.31 per share, which surpassed estimates, alongside a quarterly revenue of $96.4 billion, compared to the consensus of $93.6 billion.
• The company announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.4%, reflecting a dividend payout ratio of 8.95%.

Fiduciary Management Inc. WI lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,721 shares of the information services provider's stock after selling 47,459 shares during the quarter. Alphabet comprises about 2.0% of Fiduciary Management Inc. WI's holdings, making the stock its 15th largest position. Fiduciary Management Inc. WI's holdings in Alphabet were worth $210,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Mystic Asset Management Inc. increased its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $3,119,000. Cypress Capital LLC increased its stake in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the last quarter. Finally, Falcon Wealth Planning increased its stake in shares of Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after acquiring an additional 1,340 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 1.2%

Shares of NASDAQ:GOOGL opened at $208.49 on Tuesday. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $210.52. The company has a 50 day moving average of $187.44 and a two-hundred day moving average of $173.28. The company has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. JMP Securities increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Piper Sandler increased their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 over the last three months. Insiders own 11.55% of the company's stock.

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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