Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its stake in Alphabet Inc. by 2.1%, selling 1,910 shares and retaining 90,847 shares, valued at approximately $14 million.
• Multiple hedge funds, including Price T Rowe Associates and Capital Research Global Investors, significantly increased their positions in Alphabet during the fourth quarter, reflecting growing institutional interest.
• Alphabet's recent quarterly earnings exceeded analysts' expectations, reporting earnings per share (EPS) of $2.31 against a consensus estimate of $2.15, and the company also announced a quarterly dividend of $0.21.

New Age Alpha Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,847 shares of the information services provider's stock after selling 1,910 shares during the quarter. Alphabet makes up 0.6% of New Age Alpha Advisors LLC's investment portfolio, making the stock its 16th biggest holding. New Age Alpha Advisors LLC's holdings in Alphabet were worth $14,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Nia Impact Advisors LLC lifted its stake in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares in the last quarter. Hanlon Investment Management Inc. lifted its stake in shares of Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after buying an additional 60 shares in the last quarter. Enzi Wealth lifted its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares in the last quarter. Finally, Aspire Capital Advisors LLC lifted its stake in shares of Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 in the last three months. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Piper Sandler lifted their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. DA Davidson boosted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Price Performance

GOOGL traded down $1.38 during trading on Wednesday, reaching $201.96. 28,319,109 shares of the company traded hands, compared to its average volume of 36,762,215. 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 12-month low of $140.53 and a 12-month high of $207.05. The firm has a fifty day simple moving average of $182.27 and a 200 day simple moving average of $173.02. The company has a market cap of $2.44 trillion, a P/E ratio of 21.51, a PEG ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company 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 forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend 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.