Cyrus J. Lawrence LLC Sells 92,017 Shares of Alphabet Inc. $GOOGL

Key Points

• Cyrus J. Lawrence LLC significantly reduced its holdings in Alphabet Inc., selling 92,017 shares and holding only 5,065 shares afterward, marking a 94.8% decrease in ownership.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.4%, with a payout ratio of 8.95%.
• Several analysts have raised their price targets for Alphabet stock, with Susquehanna setting a new target at $225.00 and the company currently holding an average target price of $211.53.

Cyrus J. Lawrence LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 94.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,065 shares of the information services provider's stock after selling 92,017 shares during the period. Alphabet comprises about 3.0% of Cyrus J. Lawrence LLC's holdings, making the stock its 13th largest holding. Cyrus J. Lawrence LLC's holdings in Alphabet were worth $783,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Alphabet in the first quarter worth approximately $4,317,606,000. GAMMA Investing LLC lifted its holdings 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 worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Alphabet during the 4th quarter valued at $1,375,509,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock valued at $47,225,230. Company insiders own 11.55% of the company's stock.

Alphabet Trading Down 0.7%

NASDAQ GOOGL traded down $1.56 during trading on Tuesday, hitting $211.35. The company had a trading volume of 44,817,750 shares, compared to its average volume of 36,246,723. The company's fifty day moving average is $191.39 and its 200-day moving average is $174.16. Alphabet Inc. has a one year low of $140.53 and a one year high of $214.65. 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 company has a market cap of $2.56 trillion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley increased their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $211.79.

About Alphabet

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.