Blair William & Co. IL Sells 6,883 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Blair William & Co. IL cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,584,203 shares of the information services provider's stock after selling 6,883 shares during the period. Alphabet makes up about 1.2% of Blair William & Co. IL's portfolio, making the stock its 15th biggest holding. Blair William & Co. IL's holdings in Alphabet were worth $399,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $39,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $42,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wedbush increased their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial reiterated a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Cantor Fitzgerald increased their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. 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 Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer 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. In the last quarter, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $201.42 on Monday. The firm has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average of $180.89 and a 200 day moving average of $172.80. 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 issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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.

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