Alphabet Inc. (NASDAQ:GOOGL) is Trivant Custom Portfolio Group LLC's 10th Largest Position

Trivant Custom Portfolio Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,976 shares of the information services provider's stock after selling 3,080 shares during the period. Alphabet comprises approximately 2.5% of Trivant Custom Portfolio Group LLC's portfolio, making the stock its 10th largest position. Trivant Custom Portfolio Group LLC's holdings in Alphabet were worth $4,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Compass Planning Associates Inc acquired a new position in Alphabet in the fourth quarter valued at $30,000. PayPay Securities Corp increased its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new position in Alphabet in the fourth quarter valued at $49,000. Navigoe LLC acquired a new position in Alphabet in the fourth quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in Alphabet in the fourth quarter valued at $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 3.9%

Shares of NASDAQ GOOGL opened at $166.64 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm's 50-day moving average is $164.77 and its two-hundred day moving average is $174.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) 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 business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Morgan Stanley dropped their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Tigress Financial boosted their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup boosted their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,070 shares of company stock worth $37,745,632. 11.64% of the stock is owned by insiders.

About Alphabet

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.

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