Alphabet Inc. (NASDAQ:GOOG) Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,216 shares of the information services provider's stock after selling 16,161 shares during the period. Alphabet makes up about 0.7% of New Age Alpha Advisors LLC's portfolio, making the stock its 12th largest holding. New Age Alpha Advisors LLC's holdings in Alphabet were worth $15,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter worth $26,000. LSV Asset Management purchased a new position in Alphabet during the fourth quarter valued at $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $32,000. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of Alphabet during the first quarter worth about $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $195.75 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock's fifty day moving average is $179.89 and its two-hundred day moving average is $174.38. The company has a market capitalization of $2.37 trillion, a P/E ratio of 20.85, a P/E/G ratio of 1.26 and a beta of 1.02. 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 issued its quarterly earnings data 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. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Westpark Capital reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - 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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.