Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Norden Group LLC

Norden Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,430 shares of the information services provider's stock after selling 2,952 shares during the quarter. Alphabet accounts for about 0.9% of Norden Group LLC's investment portfolio, making the stock its 13th largest holding. Norden Group LLC's holdings in Alphabet were worth $8,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Atlas Legacy Advisors LLC boosted its stake in shares of Alphabet by 6.8% during the 1st quarter. Atlas Legacy Advisors LLC now owns 6,089 shares of the information services provider's stock valued at $942,000 after buying an additional 387 shares during the last quarter. Inlet Private Wealth LLC lifted its stake in Alphabet by 3.9% during the first quarter. Inlet Private Wealth LLC now owns 25,828 shares of the information services provider's stock worth $3,994,000 after purchasing an additional 980 shares during the last quarter. Abbot Financial Management Inc. lifted its stake in Alphabet by 1.3% during the first quarter. Abbot Financial Management Inc. now owns 36,820 shares of the information services provider's stock worth $5,694,000 after purchasing an additional 464 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its stake in Alphabet by 1.3% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 19,913 shares of the information services provider's stock worth $3,079,000 after purchasing an additional 254 shares during the last quarter. Finally, Passive Capital Management LLC. bought a new position in Alphabet during the first quarter worth $295,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 3.1%

Shares of GOOGL stock opened at $195.04 on Tuesday. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $2.36 trillion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. The business's fifty day moving average is $178.85 and its 200 day moving average is $172.81.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. 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 dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock worth $43,525,794 over the last ninety days. Insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. Truist Financial reaffirmed a "buy" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Sanford C. Bernstein raised their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Piper Sandler raised their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten investment 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 stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $211.39.

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.

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