Moody Lynn & Lieberson LLC Sells 12,033 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Moody Lynn & Lieberson LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 382,363 shares of the information services provider's stock after selling 12,033 shares during the period. Alphabet makes up approximately 3.8% of Moody Lynn & Lieberson LLC's portfolio, making the stock its 6th biggest position. Moody Lynn & Lieberson LLC's holdings in Alphabet were worth $59,129,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Anderson Financial Strategies LLC bought a new position in Alphabet during the fourth quarter valued at $49,000. EQ Wealth Advisors LLC bought a new stake in shares of Alphabet in the first quarter worth about $49,000. Navigoe LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $51,000. Prudent Man Investment Management Inc. purchased a new stake in Alphabet in the fourth quarter worth $53,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $57,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Susquehanna lowered their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $200.13.

Alphabet Trading Up 1.3%

NASDAQ GOOGL traded up $2.26 during trading on Wednesday, reaching $176.62. 42,988,099 shares of the stock traded hands, compared to its average volume of 31,724,461. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.00. The stock's 50-day moving average price is $169.31 and its 200 day moving average price is $173.67. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last three months. 11.64% of the stock is currently owned by company insiders.

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.