Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 66,381 shares of the information services provider's stock after selling 8,124 shares during the period. Alphabet makes up approximately 0.9% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 18th largest position. Sheaff Brock Investment Advisors LLC's holdings in Alphabet were worth $10,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Guardian Wealth Management Inc. boosted its position in 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 period. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter worth $39,000. Finally, Elite Financial Inc. acquired a new stake in Alphabet during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOGL shares. Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Mizuho reduced their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. JMP Securities upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Finally, Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Ten 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 company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Trading Up 3.1%

Alphabet stock opened at $195.04 on Tuesday. The firm's 50-day moving average is $178.85 and its 200-day moving average is $172.81. 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 1 year low of $140.53 and a 1 year high of $207.05. The company has a market cap of $2.36 trillion, a P/E ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given 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 is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated 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 sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on 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 $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is owned by corporate insiders.

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.

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