Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,519 shares of the information services provider's stock after selling 5,498 shares during the quarter. Alphabet accounts for approximately 0.6% of Mutual Advisors LLC's investment portfolio, making the stock its 23rd largest holding. Mutual Advisors LLC's holdings in Alphabet were worth $21,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Group Ltd. raised its holdings in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares in the last quarter. Eagle Capital Management LLC raised its holdings in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its holdings in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Stifel Nicolaus cut their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Roth Mkm restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Finally, Truist Financial restated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Ten equities research 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $199.61.

Alphabet Stock Performance

Alphabet stock traded up $2.57 during mid-day trading on Friday, hitting $180.19. The company had a trading volume of 34,243,157 shares, compared to its average volume of 31,878,935. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company's fifty day moving average is $170.32 and its 200-day moving average is $173.46. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS 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 given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.