First Pacific Advisors LP Has $395.16 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• First Pacific Advisors LP decreased its stake in Alphabet Inc. by 5.0%, currently holding approximately 2,555,321 shares, valued at $395.2 million.
• Several other investors, such as Eagle Capital Management LLC and Hudson Value Partners LLC, have recently increased their holdings in Alphabet, showing continued interest in the stock.
• Alphabet's stock has been affected by insider selling, with CEO Sundar Pichai disposing of 32,500 shares, indicating a 1.27% decrease in his ownership.

First Pacific Advisors LP lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,555,321 shares of the information services provider's stock after selling 134,360 shares during the period. Alphabet makes up about 6.3% of First Pacific Advisors LP's holdings, making the stock its 5th biggest position. First Pacific Advisors LP's holdings in Alphabet were worth $395,155,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter valued at $39,000. Finally, Elite Financial Inc. purchased a new position in shares of Alphabet in the first quarter valued at $42,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL stock traded down $2.77 during trading on Friday, reaching $189.13. The company's stock had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. The company has a market capitalization of $2.30 trillion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. The company's fifty day moving average is $178.32 and its 200-day moving average is $173.12. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JMP Securities boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Citigroup lifted their price target on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Mizuho dropped their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities boosted their target price on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Wedbush upped their price target on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.39.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 11.64% of the company's stock.

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.