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Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Empirical Finance LLC

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Key Points

  • Empirical Finance LLC reduced its stake in Alphabet Inc. by 3.3%, now holding 203,922 shares valued at approximately $31.53 million, making it their 6th largest position.
  • CEO Sundar Pichai sold 32,500 shares at an average price of $184.38, decreasing his ownership by 1.27% while retaining over 2.5 million shares.
  • Alphabet's quarterly dividend of $0.21 per share, with an annualized total of $0.84, will be paid to stockholders on September 15, reflecting a 0.4% yield.
  • Interested in Alphabet? Here are five stocks we like better.

Empirical Finance LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,922 shares of the information services provider's stock after selling 6,932 shares during the period. Alphabet comprises approximately 1.9% of Empirical Finance LLC's portfolio, making the stock its 6th biggest holding. Empirical Finance LLC's holdings in Alphabet were worth $31,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in 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 acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors grew its position in Alphabet by 16.2% during 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 increased its stake in 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 purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Roth Capital lifted their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Guggenheim increased their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup increased their price objective on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $211.39.

Read Our Latest Research Report on GOOGL

Alphabet Stock Up 3.1%

Shares of Alphabet stock traded up $5.91 during trading on Monday, reaching $195.04. The company's stock had a trading volume of 31,493,654 shares, compared to its average volume of 37,132,445. The company has a 50-day simple moving average of $178.32 and a two-hundred day simple moving average of $172.82. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.36 trillion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock valued at $43,525,794. 11.55% of the stock is owned by corporate insiders.

Alphabet Profile

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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