CGN Advisors LLC Has $6.58 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

CGN Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,558 shares of the information services provider's stock after selling 3,255 shares during the quarter. CGN Advisors LLC's holdings in Alphabet were worth $6,581,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet during the fourth quarter valued at approximately $30,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $39,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the 4th quarter worth $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,270 shares of company stock valued at $26,553,563 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.87 on Wednesday, hitting $168.05. The company's stock had a trading volume of 26,849,749 shares, compared to its average volume of 30,042,470. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm has a fifty day moving average price of $159.26 and a 200-day moving average price of $174.47. 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 1 year low of $140.53 and a 1 year 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 for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's payout ratio is 9.36%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Piper Sandler upped their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Tigress Financial upped 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. DZ Bank downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Finally, KeyCorp upped their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

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.