Alphabet Inc. $GOOGL Stock Position Cut by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. has reduced its stake in Alphabet Inc. by 3.5%, now holding 96,319 shares valued at approximately $14.89 million.
• Several investors have increased their positions in Alphabet during the first quarter, most notably Guardian Wealth Management, which raised its stake by 242.9%.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting a 0.4% yield, to be paid on September 15th, with an ex-dividend date of September 8th.

EFG Asset Management North America Corp. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 96,319 shares of the information services provider's stock after selling 3,474 shares during the quarter. Alphabet comprises about 2.5% of EFG Asset Management North America Corp.'s holdings, making the stock its 3rd biggest holding. EFG Asset Management North America Corp.'s holdings in Alphabet were worth $14,886,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOGL shares. Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Barclays increased their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday. KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald raised their target price on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research note on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $222.33.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last ninety days. 11.64% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $2.70 during trading on Friday, hitting $235.00. The company had a trading volume of 46,562,292 shares, compared to its average volume of 33,713,716. The stock has a fifty day simple moving average of $195.79 and a two-hundred day simple moving average of $175.48. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $235.76. The firm has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. 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:GOOGL - Get Free Report) last announced its earnings results 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 business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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