Consolidated Capital Management LLC Sells 9,125 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Consolidated Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,433 shares of the information services provider's stock after selling 9,125 shares during the quarter. Alphabet makes up approximately 2.5% of Consolidated Capital Management LLC's portfolio, making the stock its 15th largest holding. Consolidated Capital Management LLC's holdings in Alphabet were worth $6,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co increased its position in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new position in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC increased its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the period. Optivise Advisory Services LLC boosted its stake in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares in the last quarter. Finally, Community Bank N.A. boosted its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock valued at $37,288,490 in the last quarter. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Up 1.0%

NASDAQ GOOGL traded up $1.80 during trading hours on Friday, reaching $185.38. 21,198,761 shares of the company's stock were exchanged, compared to its average volume of 32,049,617. The company's 50-day moving average is $172.26 and its two-hundred day moving average is $173.15. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the business earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna decreased their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Finally, Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $201.68.

Alphabet Company 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.