Frank Rimerman Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,492 shares of the information services provider's stock after selling 22,324 shares during the period. Alphabet comprises about 2.5% of Frank Rimerman Advisors LLC's holdings, making the stock its 9th largest position. Frank Rimerman Advisors LLC's holdings in Alphabet were worth $31,932,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Trading Up 0.5%
NASDAQ GOOGL opened at $203.90 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $184.25 and a two-hundred day simple moving average of $173.35. The stock has a market cap of $2.47 trillion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,819 shares of company stock worth $49,796,547. 11.64% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Susquehanna boosted their target price on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.
View Our Latest Report on Alphabet
Alphabet Profile
(
Free Report)
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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