Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mathes Company Inc.

Mathes Company Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,104 shares of the information services provider's stock after selling 2,075 shares during the period. Alphabet accounts for about 2.9% of Mathes Company Inc.'s investment portfolio, making the stock its 7th biggest position. Mathes Company Inc.'s holdings in Alphabet were worth $7,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at approximately $39,000. Elite Financial Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $49,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director directly owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,843 shares of company stock worth $37,288,490. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 0.8%

Shares of NASDAQ:GOOGL traded up $1.48 on Friday, hitting $185.06. 33,864,714 shares of the company traded hands, compared to its average volume of 32,179,845. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.25 trillion, a PE ratio of 20.63, a PEG ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a 50 day simple moving average of $172.90 and a 200-day simple moving average of $173.12.

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 analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the business posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Friday, June 27th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Finally, Piper Sandler raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $201.68.

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.