Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,603,081 shares of the information services provider's stock after selling 22,764 shares during the period. Alphabet accounts for 1.9% of King Luther Capital Management Corp's portfolio, making the stock its 8th largest position. King Luther Capital Management Corp's holdings in Alphabet were worth $402,541,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock worth $49,796,547 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Rosenblatt Securities upped their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Piper Sandler upped their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wedbush upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Stock Up 0.5%

Alphabet stock opened at $203.90 on Friday. The stock has a market cap of $2.47 trillion, a P/E ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company's 50-day moving average price is $184.25 and its two-hundred day moving average price is $173.20.

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

Alphabet Announces Dividend

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

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.

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