Audent Global Asset Management LLC Sells 2,284 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Audent Global Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,254 shares of the information services provider's stock after selling 2,284 shares during the period. Alphabet comprises about 5.4% of Audent Global Asset Management LLC's investment portfolio, making the stock its 3rd largest position. Audent Global Asset Management LLC's holdings in Alphabet were worth $6,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC purchased a new position in Alphabet in the fourth quarter valued at approximately $49,000. Navigoe LLC purchased a new position in Alphabet in the fourth quarter valued at approximately $51,000. Prudent Man Investment Management Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $53,000. Campbell Capital Management Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $57,000. Finally, EQ Wealth Advisors LLC purchased a new position in Alphabet in the first quarter valued at approximately $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 owned 2,620,196 shares in the company, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last ninety days. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOGL shares. DA Davidson cut their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $199.61.

Alphabet Price Performance

NASDAQ GOOGL traded up $2.65 on Friday, reaching $180.27. The company's stock had a trading volume of 19,182,837 shares, compared to its average volume of 36,515,637. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $2.19 trillion, a PE ratio of 20.10, a PEG ratio of 1.24 and a beta of 1.00. The firm's 50 day moving average is $169.99 and its two-hundred day moving average is $173.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was 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 0.47%. Alphabet's dividend payout ratio is currently 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.