Bessemer Group Inc. Sells 167,810 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bessemer Group Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,009,312 shares of the information services provider's stock after selling 167,810 shares during the quarter. Bessemer Group Inc.'s holdings in Alphabet were worth $156,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Aurora Private Wealth Inc. raised its stake in shares of Alphabet by 864.5% in the first quarter. Aurora Private Wealth Inc. now owns 44,578 shares of the information services provider's stock valued at $6,894,000 after purchasing an additional 39,956 shares in the last quarter. Kellett Wealth Advisors LLC raised its stake in shares of Alphabet by 25.5% in the first quarter. Kellett Wealth Advisors LLC now owns 3,598 shares of the information services provider's stock valued at $556,000 after purchasing an additional 730 shares in the last quarter. MOKAN Wealth Management Inc. raised its stake in shares of Alphabet by 17.1% in the first quarter. MOKAN Wealth Management Inc. now owns 6,301 shares of the information services provider's stock valued at $975,000 after purchasing an additional 919 shares in the last quarter. Berkshire Money Management Inc. raised its stake in shares of Alphabet by 2.2% in the first quarter. Berkshire Money Management Inc. now owns 4,637 shares of the information services provider's stock valued at $717,000 after purchasing an additional 101 shares in the last quarter. Finally, Riverbend Wealth Management LLC raised its stake in shares of Alphabet by 3.5% in the first quarter. Riverbend Wealth Management LLC now owns 13,546 shares of the information services provider's stock valued at $2,095,000 after purchasing an additional 457 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group set a $195.00 target price on Alphabet in a research note on Friday, April 25th. Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday. Tigress Financial increased their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Citigroup reiterated a "buy" rating and set a $203.00 price objective (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $199.95.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock worth $35,764,898 over the last 90 days. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $178.53 on Monday. The business's 50-day simple moving average is $166.45 and its 200 day simple moving average is $174.26. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

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

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.

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