Jensen Investment Management Inc. Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Jensen Investment Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,771,379 shares of the information services provider's stock after selling 459,957 shares during the period. Alphabet makes up about 4.7% of Jensen Investment Management Inc.'s holdings, making the stock its 7th largest holding. Jensen Investment Management Inc.'s holdings in Alphabet were worth $428,566,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors grew its holdings in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,819 shares of company stock worth $49,796,547 over the last ninety days. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.2%

Shares of NASDAQ:GOOGL traded up $2.39 during mid-day trading on Friday, reaching $205.33. 23,003,480 shares of the company were exchanged, compared to its average volume of 36,597,219. 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 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.48 trillion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.36 and a beta of 1.01. The firm's 50-day simple moving average is $183.65 and its 200 day simple moving average is $173.30.

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

Alphabet Announces Dividend

The firm also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Truist Financial reissued a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Loop Capital reissued a "hold" rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Ten investment 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's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet 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.