Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,651,061 shares of the information services provider's stock after selling 704,604 shares during the quarter. Alphabet comprises approximately 3.8% of Flossbach Von Storch SE's investment portfolio, making the stock its 7th biggest holding. Flossbach Von Storch SE's holdings in Alphabet were worth $873,879,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Silphium Asset Management Ltd lifted its position in Alphabet by 20.2% during the first quarter. Silphium Asset Management Ltd now owns 21,950 shares of the information services provider's stock valued at $3,394,000 after purchasing an additional 3,696 shares during the period. TradeWell Securities LLC. purchased a new position in Alphabet during the first quarter valued at $254,000. CORDA Investment Management LLC. lifted its holdings in Alphabet by 0.6% during the first quarter. CORDA Investment Management LLC. now owns 216,340 shares of the information services provider's stock valued at $33,455,000 after purchasing an additional 1,372 shares in the last quarter. New Insight Wealth Advisors grew its position in shares of Alphabet by 16.2% in the first quarter. New Insight Wealth Advisors now owns 20,588 shares of the information services provider's stock valued at $3,184,000 after purchasing an additional 2,868 shares during the period. Finally, Silverlake Wealth Management LLC increased its stake in shares of Alphabet by 2.2% during the first quarter. Silverlake Wealth Management LLC now owns 5,328 shares of the information services provider's stock worth $824,000 after purchasing an additional 115 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Piper Sandler raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Bank of America boosted 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. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $199.82.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,943 shares of company stock worth $31,223,348. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL opened at $182.00 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The business has a 50-day moving average of $171.04 and a two-hundred day moving average of $173.13. The company has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

About Alphabet

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.

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