Park Square Financial Group LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,826 shares of the information services provider's stock after selling 1,702 shares during the period. Park Square Financial Group LLC's holdings in Alphabet were worth $746,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Gateway Wealth Partners LLC boosted its holdings in Alphabet by 12.7% during the first quarter. Gateway Wealth Partners LLC now owns 12,249 shares of the information services provider's stock valued at $1,894,000 after acquiring an additional 1,377 shares during the period. Draper Asset Management LLC increased its position in Alphabet by 0.7% during the first quarter. Draper Asset Management LLC now owns 95,464 shares of the information services provider's stock worth $14,763,000 after acquiring an additional 658 shares during the period. Greater Midwest Financial Group LLC increased its holdings in shares of Alphabet by 1.9% during the 1st quarter. Greater Midwest Financial Group LLC now owns 67,495 shares of the information services provider's stock worth $10,437,000 after purchasing an additional 1,228 shares during the period. Stegent Equity Advisors Inc. increased its stake in Alphabet by 27.1% during the first quarter. Stegent Equity Advisors Inc. now owns 8,630 shares of the information services provider's stock valued at $1,335,000 after acquiring an additional 1,842 shares during the period. Finally, Seamount Financial Group Inc. raised its holdings in Alphabet by 3.6% in the 1st quarter. Seamount Financial Group Inc. now owns 3,490 shares of the information services provider's stock valued at $540,000 after acquiring an additional 121 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,843 shares of company stock valued at $37,288,490 over the last 90 days. 11.64% of the stock is owned by insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. KeyCorp boosted their price objective on Alphabet from $195.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday. Susquehanna dropped their price objective on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Jefferies Financial Group decreased their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Cantor Fitzgerald increased their price target on shares of Alphabet from $171.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $201.68.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Up 0.8%
NASDAQ:GOOGL traded up $1.48 during trading hours on Friday, hitting $185.06. 33,864,714 shares of the company traded hands, compared to its average volume of 32,179,845. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.25 trillion, a PE ratio of 20.63, a PEG ratio of 1.30 and a beta of 1.00. The firm's 50-day simple moving average is $172.90 and its 200-day simple moving average is $173.12.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. Alphabet's payout ratio is 9.36%.
Alphabet Profile
(
Free Report)
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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