Dakota Wealth Management Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Dakota Wealth Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,284 shares of the information services provider's stock after selling 50,041 shares during the quarter. Alphabet accounts for approximately 0.7% of Dakota Wealth Management's investment portfolio, making the stock its 29th largest holding. Dakota Wealth Management's holdings in Alphabet were worth $30,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $39,000. Elite Financial Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.4%

Shares of Alphabet stock traded up $0.80 during trading hours on Friday, hitting $192.97. The company's stock had a trading volume of 13,100,900 shares, compared to its average volume of 36,861,688. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a fifty day moving average of $175.23 and a 200-day moving average of $173.10. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. 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 prior year, the company posted $1.89 EPS. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday. Needham & Company LLC boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday. KeyCorp boosted their price objective on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday. Barclays boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $211.32.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. Corporate insiders own 11.64% of the company's stock.

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.