Alphabet Inc. $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 cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.8% during the first quarter, according to the company in 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 accounts for 3.1% of NBW Capital LLC's investment portfolio, making the stock its 6th largest position. NBW Capital LLC's holdings in Alphabet were worth $14,039,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its position 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 last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC grew its position 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 buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,819 shares of company stock worth $49,796,547. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded down $1.31 during trading on Monday, hitting $202.59. 8,791,928 shares of the stock were exchanged, compared to its average volume of 36,495,262. The stock has a market cap of $2.45 trillion, a PE ratio of 21.57, a P/E/G ratio of 1.37 and a beta of 1.01. The stock's fifty day moving average is $184.25 and its 200 day moving average is $173.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. 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 posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS 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 issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOGL shares. Loop Capital restated a "hold" rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Royal Bank Of Canada raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. BMO Capital Markets raised their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Company 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.