Alapocas Investment Partners Inc. Sells 2,339 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Alapocas Investment Partners Inc. has reduced its stake in Alphabet Inc. by 2.7%, making it the firm's 4th largest position, accounting for about 8.0% of its investment portfolio.
• Several hedge funds have increased their holdings in Alphabet recently, with Bessemer Group Inc. raising its stake by 10.8% to over $2.2 billion.
• Alphabet has declared a quarterly dividend of $0.21, with a dividend yield of 0.4%, to be paid on September 15th to stockholders of record on September 8th.

Alapocas Investment Partners Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,657 shares of the information services provider's stock after selling 2,339 shares during the quarter. Alphabet makes up 8.0% of Alapocas Investment Partners Inc.'s holdings, making the stock its 4th biggest position. Alapocas Investment Partners Inc.'s holdings in Alphabet were worth $13,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. LSV Asset Management purchased a new stake in Alphabet in the 4th quarter valued at $27,000. Principia Wealth Advisory LLC increased its position in 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 during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth about $26,000. Greykasell Wealth Strategies Inc. acquired a new position in Alphabet in the 1st quarter valued at about $32,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG traded up $4.89 on Friday, reaching $202.17. The company had a trading volume of 5,389,899 shares, compared to its average volume of 24,026,020. The stock has a 50-day moving average price of $181.28 and a 200-day moving average price of $174.68. The stock has a market capitalization of $2.44 trillion, a PE ratio of 21.52, a P/E/G ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. 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 released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 273,219 shares of company stock worth $49,474,273. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Raymond James Financial reissued an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Company 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.