Hoertkorn Richard Charles Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Hoertkorn Richard Charles decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,079 shares of the information services provider's stock after selling 6,385 shares during the quarter. Alphabet comprises 4.9% of Hoertkorn Richard Charles' holdings, making the stock its 10th largest position. Hoertkorn Richard Charles' holdings in Alphabet were worth $10,682,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Addison Advisors LLC grew its holdings in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the period. Burt Wealth Advisors grew its stake in shares of 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 purchasing an additional 54 shares during the last quarter. Perritt Capital Management Inc raised its holdings 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 worth $117,000 after purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC lifted its stake in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the last quarter. Finally, Hanlon Investment Management Inc. boosted its holdings in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 over the last quarter. Insiders own 11.64% of the company's stock.

Alphabet Stock Up 0.2%

NASDAQ:GOOGL traded up $0.44 during mid-day trading on Friday, reaching $179.08. The stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The business's 50 day moving average is $168.36 and its 200 day moving average is $174.08. 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 fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced 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 is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Susquehanna dropped their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Bank of America lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Piper Sandler boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $203.00 price objective (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $199.95.

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.