Central Valley Advisors LLC Has $2.90 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Central Valley Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,772 shares of the information services provider's stock after selling 1,589 shares during the quarter. Alphabet makes up 1.1% of Central Valley Advisors LLC's investment portfolio, making the stock its 28th largest position. Central Valley Advisors LLC's holdings in Alphabet were worth $2,903,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC boosted its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC boosted its stake in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp boosted its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 in the last three months. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Tigress Financial boosted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Susquehanna dropped their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Citigroup upped their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Trading Down 0.9%

Shares of NASDAQ:GOOGL traded down $1.65 during trading on Thursday, reaching $175.70. 20,879,613 shares of the stock were exchanged, compared to its average volume of 30,364,109. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm's 50-day moving average price is $162.29 and its 200 day moving average price is $174.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 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.