Consolidated Investment Group LLC Sells 2,710 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Consolidated Investment Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,550 shares of the information services provider's stock after selling 2,710 shares during the period. Alphabet comprises approximately 1.8% of Consolidated Investment Group LLC's holdings, making the stock its 11th largest position. Consolidated Investment Group LLC's holdings in Alphabet were worth $11,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC raised its holdings 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 valued at $1,035,000 after acquiring an additional 403 shares during the period. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd lifted its position in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC boosted its stake in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.7%

Shares of GOOGL traded up $2.86 during trading hours on Thursday, reaching $173.54. 31,662,209 shares of the company traded hands, compared to its average volume of 30,836,780. The stock's fifty day moving average price is $165.45 and its 200 day moving average price is $174.58. 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 firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.35, a PEG 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOGL shares. Westpark Capital reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Tigress Financial boosted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.17.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,306 shares of company stock worth $35,782,927 over the last three months. 11.64% of the stock is owned by corporate insiders.

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.