Bellwether Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 63.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,536 shares of the information services provider's stock after selling 7,981 shares during the quarter. Bellwether Advisors LLC's holdings in Alphabet were worth $701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Metis Global Partners LLC lifted its position in Alphabet by 11.4% in the first quarter. Metis Global Partners LLC now owns 325,883 shares of the information services provider's stock valued at $50,395,000 after acquiring an additional 33,275 shares during the last quarter. Nemes Rush Group LLC grew its holdings in shares of Alphabet by 2.0% during the first quarter. Nemes Rush Group LLC now owns 71,186 shares of the information services provider's stock worth $11,008,000 after purchasing an additional 1,380 shares during the last quarter. First National Advisers LLC increased its position in shares of Alphabet by 6.2% during the first quarter. First National Advisers LLC now owns 30,337 shares of the information services provider's stock worth $4,692,000 after purchasing an additional 1,779 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in shares of Alphabet by 3.1% in the 1st quarter. Ridgewood Investments LLC now owns 26,388 shares of the information services provider's stock valued at $4,081,000 after purchasing an additional 783 shares during the last quarter. Finally, TCW Group Inc. boosted its position in shares of Alphabet by 1.0% in the 1st quarter. TCW Group Inc. now owns 411,493 shares of the information services provider's stock valued at $63,633,000 after purchasing an additional 3,956 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Westpark Capital lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Cantor Fitzgerald lifted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Barclays upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.39.
Read Our Latest Report on GOOGL
Alphabet Stock Down 1.4%
Shares of NASDAQ GOOGL opened at $189.13 on Monday. The firm's 50-day moving average is $178.32 and its two-hundred day moving average is $172.82. The company has a market capitalization of $2.29 trillion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.28 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 debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is owned by insiders.
About Alphabet
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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
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