Concord Asset Management LLC VA Sells 2,809 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Concord Asset Management LLC VA lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,326 shares of the information services provider's stock after selling 2,809 shares during the quarter. Alphabet makes up approximately 1.0% of Concord Asset Management LLC VA's holdings, making the stock its 23rd biggest holding. Concord Asset Management LLC VA's holdings in Alphabet were worth $4,556,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter worth about $24,383,677,000. FMR LLC boosted its holdings 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 buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock valued at $43,523,710. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. UBS Group raised their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $211.32.

Alphabet Stock Up 0.5%

NASDAQ:GOOGL traded up $1.01 during trading hours on Friday, reaching $193.18. The company had a trading volume of 39,738,342 shares, compared to its average volume of 41,427,228. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. The business's 50-day simple moving average is $175.77 and its two-hundred day simple moving average is $172.93. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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.