Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,391 shares of the information services provider's stock after selling 12,417 shares during the period. Alphabet makes up 3.8% of Xcel Wealth Management LLC's investment portfolio, making the stock its 4th largest position. Xcel Wealth Management LLC's holdings in Alphabet were worth $12,277,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its position 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 purchasing an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at about $24,383,677,000. Price T Rowe Associates Inc. MD raised its position in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors raised its position in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a report on Wednesday, June 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Susquehanna dropped their price objective on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.61.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last three months. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL traded up $2.65 during trading on Friday, reaching $180.27. 19,182,837 shares of the stock were exchanged, compared to its average volume of 36,515,637. The business's 50 day moving average price is $169.99 and its two-hundred day moving average price is $173.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.24 and a beta of 1.00. 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 posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the business earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is 9.36%.

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.