Geneva Partners LLC Sells 1,618 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Geneva Partners LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,463 shares of the information services provider's stock after selling 1,618 shares during the quarter. Alphabet makes up 5.0% of Geneva Partners LLC's holdings, making the stock its 4th biggest position. Geneva Partners LLC's holdings in Alphabet were worth $9,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GOOGL. Burt Wealth Advisors increased its stake in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after acquiring an additional 54 shares during the last quarter. Perritt Capital Management Inc lifted its stake in shares of Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after acquiring an additional 58 shares during the last quarter. Nia Impact Advisors LLC increased its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. grew its stake in shares of Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth increased its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus dropped their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Roth Mkm reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $199.82.

Alphabet Price Performance

NASDAQ GOOGL traded up $0.44 on Tuesday, hitting $182.00. The company had a trading volume of 33,367,020 shares, compared to its average volume of 31,923,445. The company's fifty day moving average price is $170.66 and its 200-day moving average price is $173.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.21 trillion, a PE ratio of 20.29, a PEG ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 business earned $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio is 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,443 shares of company stock valued at $36,298,548. 11.55% of the stock is currently 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.