Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Indie Asset Partners LLC

Key Points

• Indie Asset Partners LLC has reduced its holdings in Alphabet Inc. by 31.6%, selling 1,867 shares and now owning a total of 4,044 shares valued at approximately $625,000.
• CEO Sundar Pichai and insider John Kent Walker both sold significant amounts of stock recently, indicating insider trading activity with Pichai selling 32,500 shares and Walker selling 23,820 shares.
• Analysts have increased their price targets for Alphabet shares, with multiple firms setting new targets ranging from $200 to $225, reflecting a positive outlook on the company's performance.

Indie Asset Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 31.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,044 shares of the information services provider's stock after selling 1,867 shares during the period. Indie Asset Partners LLC's holdings in Alphabet were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Picton Mahoney Asset Management raised its holdings in Alphabet by 77.6% during the 1st quarter. Picton Mahoney Asset Management now owns 221,759 shares of the information services provider's stock valued at $34,291,000 after buying an additional 96,883 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Alphabet by 4.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 78,467 shares of the information services provider's stock worth $12,134,000 after buying an additional 3,101 shares during the period. Fielder Capital Group LLC grew its position in shares of Alphabet by 3.0% in the 1st quarter. Fielder Capital Group LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 204 shares during the period. Patten & Patten Inc. TN grew its position in shares of Alphabet by 2.3% in the 1st quarter. Patten & Patten Inc. TN now owns 219,776 shares of the information services provider's stock worth $33,986,000 after buying an additional 4,961 shares during the period. Finally, Financial Management Network Inc. grew its position in Alphabet by 1.9% during the 1st quarter. Financial Management Network Inc. now owns 18,084 shares of the information services provider's stock valued at $2,654,000 after purchasing an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's 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 completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,219 shares of company stock worth $49,474,273. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.5%

Shares of GOOGL stock traded up $4.90 on Friday, hitting $201.42. The stock had a trading volume of 39,112,061 shares, compared to its average volume of 38,618,092. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $180.89 and a 200 day moving average price of $173.15. The company has a market cap of $2.44 trillion, a PE ratio of 21.45, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Barclays increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Susquehanna raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Cantor Fitzgerald raised their target price on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. KeyCorp raised their target price on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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.