Bryn Mawr Capital Management LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bryn Mawr Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,815 shares of the information services provider's stock after selling 31,004 shares during the quarter. Alphabet accounts for 1.7% of Bryn Mawr Capital Management LLC's portfolio, making the stock its 10th largest position. Bryn Mawr Capital Management LLC's holdings in Alphabet were worth $28,425,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. FMR LLC lifted its holdings in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors grew its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. Insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOGL shares. KeyCorp raised their target price on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday. Wedbush lifted their price objective on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday. Roth Capital boosted their price target on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $211.32.

Alphabet Stock Up 0.5%

GOOGL stock traded up $1.01 during trading hours on Friday, reaching $193.18. 39,738,342 shares of the stock were exchanged, compared to its average volume of 41,427,228. The firm's 50-day moving average is $175.77 and its 200-day moving average is $172.93. The company 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. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.