CMG Global Holdings LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 47.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,257 shares of the information services provider's stock after selling 2,045 shares during the period. CMG Global Holdings LLC's holdings in Alphabet were worth $360,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Westside Investment Management Inc. grew its stake in Alphabet by 3.1% in the 1st quarter. Westside Investment Management Inc. now owns 44,997 shares of the information services provider's stock worth $6,970,000 after buying an additional 1,362 shares in the last quarter. Insight Inv LLC increased its stake in shares of Alphabet by 114.4% in the 1st quarter. Insight Inv LLC now owns 37,909 shares of the information services provider's stock worth $5,862,000 after acquiring an additional 20,229 shares in the last quarter. Nabity Jensen Investment Management Inc grew its stake in shares of Alphabet by 1.3% in the first quarter. Nabity Jensen Investment Management Inc now owns 8,623 shares of the information services provider's stock worth $1,333,000 after acquiring an additional 114 shares during the last quarter. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Alphabet by 0.3% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 27,261 shares of the information services provider's stock worth $4,216,000 after purchasing an additional 93 shares in the last quarter. Finally, Argent Advisors Inc. lifted its position in Alphabet by 36.6% during the first quarter. Argent Advisors Inc. now owns 14,102 shares of the information services provider's stock valued at $2,181,000 after purchasing an additional 3,778 shares during the period. 40.03% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on GOOGL shares. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Stifel Nicolaus cut their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. DA Davidson decreased their target price 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. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.
Read Our Latest Stock Report on GOOGL
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the transaction, the director directly owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock worth $36,330,928. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Down 1.5%
Shares of NASDAQ:GOOGL traded down $2.74 during trading on Monday, hitting $176.79. 34,110,803 shares of the company were exchanged, compared to its average volume of 31,600,813. The firm's 50 day moving average price is $168.70 and its 200-day moving average price is $173.77. The stock has a market capitalization of $2.15 trillion, a P/E ratio of 19.71, a PEG ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.
Alphabet Profile
(
Free Report)
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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