Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Atria Investments Inc

Key Points

• Atria Investments Inc reduced its stake in Alphabet Inc by 2.1%, now holding 308,711 shares valued at approximately $47.7 million, making it the firm's 18th largest holding.
• Institutional investors own 40.03% of Alphabet's stock, with various firms, including Perritt Capital Management and Nia Impact Advisors, increasing their holdings in the last quarter.
• Analysts remain optimistic, with an average price target of $211.39 and numerous "buy" ratings following recent price target increases from several research firms.

Atria Investments Inc decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,711 shares of the information services provider's stock after selling 6,725 shares during the period. Alphabet comprises about 0.6% of Atria Investments Inc's investment portfolio, making the stock its 18th biggest holding. Atria Investments Inc's holdings in Alphabet were worth $47,739,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eagle Capital Management LLC grew its holdings in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE lifted its position in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its position in shares of Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after acquiring an additional 13,564 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 1.4%

Shares of NASDAQ:GOOGL traded down $2.77 on Friday, reaching $189.13. The company had a trading volume of 34,777,882 shares, compared to its average volume of 38,669,572. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm's 50 day simple moving average is $178.32 and its 200-day simple moving average is $173.12. The firm has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Susquehanna boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. UBS Group boosted their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Ten research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.39.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's 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 owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's 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 directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 over the last quarter. Company insiders own 11.64% of the company's stock.

About Alphabet

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.