Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,819 shares of the information services provider's stock after selling 2,185 shares during the quarter. Alphabet accounts for about 2.0% of Asset Advisors Investment Management LLC's investment portfolio, making the stock its 17th largest holding. Asset Advisors Investment Management LLC's holdings in Alphabet were worth $19,457,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Kingsview Wealth Management LLC grew its holdings in Alphabet by 3.2% during the first quarter. Kingsview Wealth Management LLC now owns 140,080 shares of the information services provider's stock worth $21,662,000 after acquiring an additional 4,386 shares during the period. Members Trust Co boosted its position in shares of Alphabet by 30.4% in the 1st quarter. Members Trust Co now owns 4,893 shares of the information services provider's stock valued at $757,000 after purchasing an additional 1,140 shares during the period. Bailard Inc. boosted its position in Alphabet by 0.3% during the 1st quarter. Bailard Inc. now owns 470,990 shares of the information services provider's stock worth $72,834,000 after acquiring an additional 1,276 shares during the period. Archvest Wealth Advisors Inc. boosted its position in Alphabet by 6.4% during the 1st quarter. Archvest Wealth Advisors Inc. now owns 7,372 shares of the information services provider's stock worth $1,140,000 after acquiring an additional 441 shares during the period. Finally, Woodward Diversified Capital LLC lifted its holdings in shares of Alphabet by 10.0% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,858 shares of the information services provider's stock valued at $1,370,000 after buying an additional 806 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of GOOGL traded up $1.01 during midday trading on Friday, hitting $193.18. 39,738,342 shares of the company traded hands, compared to its average volume of 41,427,228. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a 50 day moving average of $175.77 and a 200-day moving average of $173.08. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00.

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, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same quarter last year, the firm earned $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were 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 represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated 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 transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Guggenheim boosted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday. KeyCorp upped their price target on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Rosenblatt Securities upped their price objective on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.32.

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.