Avior Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,236 shares of the information services provider's stock after selling 11,872 shares during the quarter. Avior Wealth Management LLC's holdings in Alphabet were worth $7,923,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp grew its stake in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
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 stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,070 shares of company stock valued at $37,745,632. Insiders own 11.55% of the company's stock.
Alphabet Trading Down 3.9%
Shares of NASDAQ GOOGL opened at $166.64 on Monday. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock's 50 day simple moving average is $164.77 and its 200 day simple moving average is $174.73.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter last year, the business posted $1.89 EPS. Equities research analysts expect 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. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Piper Sandler increased their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lowered their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Finally, Truist Financial lowered their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.75.
Read Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
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.
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