Nottingham Advisors Inc. Sells 3,450 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Nottingham Advisors Inc. reduced its stake in Alphabet Inc. by 67.8% during Q1, now holding 1,640 shares worth $254,000.
• Recent analyst reports have seen target price increases for Alphabet, with updates from firms such as Cantor Fitzgerald and Morgan Stanley, suggesting a consensus price target of $211.53.
• Alphabet announced a quarterly dividend of $0.21 per share, equating to an annualized dividend yield of 0.4%, with the payout date set for September 15th.

Nottingham Advisors Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 67.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,640 shares of the information services provider's stock after selling 3,450 shares during the quarter. Nottingham Advisors Inc.'s holdings in Alphabet were worth $254,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC raised its stake in Alphabet by 3.9% in the 4th 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 boosted its holdings 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 purchasing an additional 506 shares during the period. Highview Capital Management LLC DE grew its position in shares of Alphabet by 3.6% during the 4th 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. Finally, Hudson Value Partners LLC raised its position in shares of Alphabet by 22.7% in the fourth 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 in the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Citigroup upped their target price on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Loop Capital reaffirmed a "hold" rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday. Roth Capital upped their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Rosenblatt Securities lifted their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock worth $49,474,273. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL traded up $0.43 during trading hours on Thursday, hitting $196.52. The stock had a trading volume of 26,014,319 shares, compared to its average volume of 36,916,484. The stock has a market cap of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $179.76 and its 200 day simple moving average is $173.12.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given 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 is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

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.