Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,269 shares of the information services provider's stock after selling 3,022 shares during the quarter. Alphabet makes up about 2.2% of Forte Capital LLC ADV's portfolio, making the stock its 10th biggest holding. Forte Capital LLC ADV's holdings in Alphabet were worth $18,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $39,000. Elite Financial Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $49,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth about $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. UBS Group increased their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Tigress Financial increased their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Sanford C. Bernstein raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, BMO Capital Markets raised their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.32.

Alphabet Stock Down 0.9%

Alphabet stock traded down $1.72 during mid-day trading on Monday, hitting $191.46. The company's stock had a trading volume of 10,084,162 shares, compared to its average volume of 36,871,352. The firm's 50 day moving average is $175.77 and its 200 day moving average is $172.79. The company has a market cap of $2.32 trillion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same period in the prior year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. Alphabet's dividend payout ratio is 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 in the last three months. 11.64% of the stock is owned by 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.