DCM Advisors LLC Reduces Stock Position in Alphabet Inc. $GOOGL

Key Points

• DCM Advisors LLC has reduced its stake in Alphabet Inc. by 33.6%, now holding 32,361 shares worth approximately $4.91 million.
• Despite the reduction by DCM Advisors, other institutional investors like Vanguard Group Inc. and Invesco Ltd. have increased their positions in Alphabet, highlighting ongoing institutional interest.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a payout planned for September 15th, which reflects an annualized yield of 0.4%.

DCM Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,361 shares of the information services provider's stock after selling 16,395 shares during the period. Alphabet comprises about 2.6% of DCM Advisors LLC's investment portfolio, making the stock its 18th biggest position. DCM Advisors LLC's holdings in Alphabet were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 14,307,345 shares during the period. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG lifted its position in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the period. Finally, Amundi lifted its position in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal 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 shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

GOOGL opened at $234.04 on Tuesday. The firm has a market cap of $2.83 trillion, a P/E ratio of 24.92, a PEG ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $238.13. The company has a 50 day simple moving average of $196.95 and a two-hundred day simple moving average of $175.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. JMP Securities raised their price objective on shares of Alphabet from $225.00 to $250.00 and gave the company a "market outperform" rating in a research note on Wednesday, September 3rd. Canaccord Genuity Group raised their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.44.

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.

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