Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by NBW Capital LLC

Key Points

• NBW Capital LLC has reduced its holdings in Alphabet Inc. by 22.8%, selling 26,746 shares during the 1st quarter, leaving it with 90,787 shares valued at approximately $14 million.
• Alphabet recently reported earnings of $2.31 per share, exceeding estimates, and announced a quarterly dividend of $0.21 to be paid on September 15th.
• Insider selling has occurred, with notable sales by John Kent Walker and Kavitark Ram Shriram, totaling 274,819 shares worth nearly $50 million over the last ninety days.

NBW Capital LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,787 shares of the information services provider's stock after selling 26,746 shares during the quarter. Alphabet makes up approximately 3.1% of NBW Capital LLC's holdings, making the stock its 6th biggest position. NBW Capital LLC's holdings in Alphabet were worth $14,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

GOOGL opened at $202.94 on Friday. 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 fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company's 50 day moving average price is $183.65 and its two-hundred day moving average price is $173.30. The firm has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.36 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Westpark Capital increased their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Citigroup upped their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Piper Sandler raised 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. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $211.53.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 over the last ninety days. 11.64% of the stock is owned by company insiders.

About Alphabet

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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