BSW Wealth Partners Sells 4,419 Shares of Alphabet Inc. (NASDAQ:GOOGL)

BSW Wealth Partners trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,540 shares of the information services provider's stock after selling 4,419 shares during the period. BSW Wealth Partners' holdings in Alphabet were worth $3,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jag Capital Management LLC grew its position in Alphabet by 24.8% in the first quarter. Jag Capital Management LLC now owns 121,707 shares of the information services provider's stock valued at $18,821,000 after purchasing an additional 24,152 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $2,564,000. Hartmann Taylor Wealth Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $399,000. Kessler Investment Group LLC grew its position in shares of Alphabet by 5.1% in the 1st quarter. Kessler Investment Group LLC now owns 63,455 shares of the information services provider's stock valued at $9,813,000 after acquiring an additional 3,083 shares during the period. Finally, Sims Investment Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $303,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $2.74 during midday trading on Monday, hitting $176.79. The stock had a trading volume of 34,110,803 shares, compared to its average volume of 31,600,833. The company has a market capitalization of $2.15 trillion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $169.03 and its 200-day moving average price is $173.67. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the firm posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOGL shares. DA Davidson decreased their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Truist Financial reaffirmed a "buy" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.95.

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.