Fishman Jay A Ltd. MI Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fishman Jay A Ltd. MI lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,238 shares of the information services provider's stock after selling 34,065 shares during the quarter. Alphabet accounts for approximately 6.7% of Fishman Jay A Ltd. MI's holdings, making the stock its 3rd biggest position. Fishman Jay A Ltd. MI's holdings in Alphabet were worth $60,965,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at $24,383,677,000. FMR LLC lifted its stake in 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 acquiring an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 16.2% in the fourth 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 period. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 in the last quarter. 11.55% 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. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Finally, Roth Mkm reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $200.17.

Alphabet Price Performance

GOOGL traded up $3.91 during trading on Wednesday, hitting $170.68. 34,362,685 shares of the company traded hands, compared to its average volume of 30,801,769. 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 company has a market cap of $2.07 trillion, a PE ratio of 19.03, a P/E/G ratio of 1.05 and a beta of 1.01. The stock's 50-day simple moving average is $165.10 and its two-hundred day simple moving average is $174.61. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share 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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) 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.