Burr Financial Services LLC Sells 3,333 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Burr Financial Services LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,227 shares of the information services provider's stock after selling 3,333 shares during the period. Alphabet accounts for about 1.8% of Burr Financial Services LLC's holdings, making the stock its 11th largest position. Burr Financial Services LLC's holdings in Alphabet were worth $2,355,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GOOGL. Macroview Investment Management LLC grew its position in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares during the last quarter. Addison Advisors LLC boosted its position in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares in the last quarter. Burt Wealth Advisors boosted its position in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc boosted its position in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Roth Mkm restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citigroup lifted their price target on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,270 shares of company stock valued at $26,553,563. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL traded up $0.80 during midday trading on Wednesday, reaching $166.98. The company had a trading volume of 13,117,453 shares, compared to its average volume of 29,991,078. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $159.26 and a two-hundred day moving average of $174.47. The company has a market cap of $2.03 trillion, a P/E ratio of 20.74, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet's dividend payout ratio is presently 9.36%.

Alphabet Company 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.