Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Torray Investment Partners LLC

Key Points

• Torray Investment Partners LLC reduced its stake in Alphabet Inc. by 17.6%, now holding 139,687 shares worth approximately $21.6 million.
• Institutional investors currently own 40.03% of Alphabet's stock, with significant increases from firms like FMR LLC and GAMMA Investing LLC in recent quarters.
• Alphabet recently reported earnings of $2.31 EPS for the quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.21 per share.

Torray Investment Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,687 shares of the information services provider's stock after selling 29,874 shares during the period. Alphabet makes up approximately 3.2% of Torray Investment Partners LLC's holdings, making the stock its 4th biggest position. Torray Investment Partners LLC's holdings in Alphabet were worth $21,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp increased its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Capital Research Global Investors raised its position in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. DA Davidson lifted their price objective on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Rosenblatt Securities raised their target price on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Royal Bank Of Canada upped their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $232.00 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Trading Up 0.2%

NASDAQ GOOGL opened at $196.52 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.38 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 1.01. The stock's 50-day moving average is $180.26 and its 200-day moving average is $173.13.

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, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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 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 dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,219 shares of company stock valued at $49,474,273. Insiders own 11.64% of the company's stock.

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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