Davidson Capital Management Inc. Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Davidson Capital Management Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,299 shares of the information services provider's stock after selling 3,459 shares during the period. Davidson Capital Management Inc.'s holdings in Alphabet were worth $2,520,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. HFG Advisors Inc. boosted its holdings in shares of Alphabet by 16.8% in the first quarter. HFG Advisors Inc. now owns 2,094 shares of the information services provider's stock valued at $324,000 after acquiring an additional 301 shares during the period. Community Bank N.A. boosted its holdings in shares of Alphabet by 4.3% in the first quarter. Community Bank N.A. now owns 48,152 shares of the information services provider's stock valued at $7,446,000 after acquiring an additional 1,979 shares during the period. Grandview Asset Management LLC boosted its holdings in shares of Alphabet by 0.7% in the first quarter. Grandview Asset Management LLC now owns 15,023 shares of the information services provider's stock valued at $2,323,000 after acquiring an additional 98 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Alphabet by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 774,799 shares of the information services provider's stock valued at $119,814,000 after acquiring an additional 17,410 shares during the period. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Alphabet by 18.1% in the first quarter. CWA Asset Management Group LLC now owns 118,628 shares of the information services provider's stock valued at $18,345,000 after acquiring an additional 18,161 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Susquehanna reduced their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Finally, Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 over the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Down 3.9%

GOOGL opened at $166.64 on Friday. The firm's fifty day moving average is $164.77 and its two-hundred day moving average is $174.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the business posted $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio is currently 9.36%.

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.

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