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Maxi Investments CY Ltd Sells 8,345 Shares of Alphabet Inc. (NASDAQ:GOOGL)

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Key Points

  • Maxi Investments CY Ltd reduced its stake in Alphabet Inc. by 47.8%, selling 8,345 shares and retaining 9,100 shares valued at approximately $1.4 million.
  • Alphabet's stock is currently trading at $203.34 with a market capitalization of $2.46 trillion, and it reported a revenue of $96.43 billion for the last quarter.
  • Insiders at Alphabet have sold significant shares, including CEO Sundar Pichai, who sold 32,500 shares, contributing to a total of 274,219 shares sold over the past 90 days.
  • Need better tools to track Alphabet? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Maxi Investments CY Ltd lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 47.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,100 shares of the information services provider's stock after selling 8,345 shares during the period. Maxi Investments CY Ltd's holdings in Alphabet were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Eagle Capital Management LLC boosted its position in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC boosted its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE boosted its position in Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC boosted its position in Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after buying an additional 13,564 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,219 shares of company stock valued at $49,674,273. 11.64% of the stock is owned by company insiders.

Alphabet Trading Up 0.6%

Shares of Alphabet stock traded up $1.28 on Thursday, reaching $203.24. 19,473,324 shares of the company's stock were exchanged, compared to its average volume of 36,646,953. The company has a market capitalization of $2.46 trillion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm's 50-day moving average is $182.95 and its two-hundred day moving average is $173.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Announces Dividend

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

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. JMP Securities lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Piper Sandler boosted their price target 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. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, KeyCorp boosted their price target 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. 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 a consensus target price of $211.53.

Check Out Our Latest Report on GOOGL

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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