Cantor Fitzgerald Investment Advisors L.P. Sells 2,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cantor Fitzgerald Investment Advisors L.P. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 54.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,660 shares of the information services provider's stock after selling 2,000 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Alphabet were worth $257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverwater Partners LLC raised its holdings in Alphabet by 4.7% in the 1st quarter. Riverwater Partners LLC now owns 12,288 shares of the information services provider's stock worth $1,900,000 after purchasing an additional 550 shares in the last quarter. Stableford Capital II LLC increased its position in shares of Alphabet by 2.2% during the first quarter. Stableford Capital II LLC now owns 59,636 shares of the information services provider's stock valued at $9,015,000 after buying an additional 1,289 shares during the period. Proathlete Wealth Management LLC increased its position in shares of Alphabet by 0.7% during the first quarter. Proathlete Wealth Management LLC now owns 13,715 shares of the information services provider's stock valued at $2,123,000 after buying an additional 102 shares during the period. Abundance Wealth Counselors raised its stake in Alphabet by 3.2% in the first quarter. Abundance Wealth Counselors now owns 32,798 shares of the information services provider's stock worth $5,065,000 after buying an additional 1,028 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in Alphabet by 0.5% in the first quarter. Investment Research & Advisory Group Inc. now owns 42,606 shares of the information services provider's stock worth $6,589,000 after buying an additional 191 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last quarter. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Bank of America increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Wells Fargo & Company raised their price objective on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Truist Financial decreased their price target on shares of 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 assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $200.17.

Alphabet Stock Performance

GOOGL traded up $3.91 during mid-day trading on Wednesday, reaching $170.68. 35,420,806 shares of the company traded hands, compared to its average volume of 30,833,475. The company's fifty day moving average price is $165.45 and its 200-day moving average price is $174.58. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 19.03, a P/E/G ratio of 1.06 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

Alphabet 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.