Alphabet Inc. $GOOGL Stock Holdings Lessened by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in Alphabet Inc. by 10.1%, owning 1,047,158 shares after selling 117,480 during the first quarter, making Alphabet the 12th biggest holding in their portfolio.
• In recent insider activity, John Kent Walker sold 23,820 shares, representing a 35.65% decrease in his holdings, while director Kavitark Ram Shriram sold 18,566 shares, marking a 7.09% decrease in their ownership.
• Alphabet has announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.4%, and an ex-dividend date set for September 8th.

Clark Capital Management Group Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,047,158 shares of the information services provider's stock after selling 117,480 shares during the period. Alphabet accounts for 1.2% of Clark Capital Management Group Inc.'s portfolio, making the stock its 12th largest position. Clark Capital Management Group Inc.'s holdings in Alphabet were worth $161,933,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the first quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 1.2%

NASDAQ GOOGL traded up $2.70 during trading hours on Friday, reaching $235.00. 46,562,292 shares of the company traded hands, compared to its average volume of 33,713,716. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $235.76. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.84 trillion, a PE ratio of 25.03, a PEG ratio of 1.58 and a beta of 1.01. The company has a 50 day moving average of $195.79 and a two-hundred day moving average of $175.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday. KeyCorp increased their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Citigroup reissued an "outperform" rating on shares of Alphabet in a research report on Wednesday. Finally, Guggenheim raised their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.33.

Alphabet Company 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.