Somerville Kurt F reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,238 shares of the information services provider's stock after selling 6,603 shares during the period. Alphabet makes up approximately 4.1% of Somerville Kurt F's holdings, making the stock its 6th largest holding. Somerville Kurt F's holdings in Alphabet were worth $23,542,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Perritt Capital Management Inc grew its position in shares of Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its position in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. raised its stake in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after acquiring an additional 60 shares in the last quarter. Enzi Wealth raised its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded down $2.77 during midday trading on Friday, reaching $189.13. 34,777,882 shares of the company were exchanged, compared to its average volume of 37,170,977. The stock's 50-day moving average price is $177.91 and its 200-day moving average price is $173.12. The stock has a market cap of $2.30 trillion, a P/E ratio of 20.14, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on GOOGL shares. Susquehanna boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Bank of America raised their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $211.39.
Read Our Latest Research Report on GOOGL
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The stock was 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 directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,399 shares of company stock valued at $43,525,794 over the last 90 days. 11.64% of the stock is owned by insiders.
About Alphabet
(
Free Report)
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
