DSM Capital Partners LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

DSM Capital Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,397,860 shares of the information services provider's stock after selling 21,381 shares during the quarter. Alphabet comprises about 6.5% of DSM Capital Partners LLC's portfolio, making the stock its 6th largest position. DSM Capital Partners LLC's holdings in Alphabet were worth $370,805,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. DA Davidson lifted their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $211.53.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,319 shares of company stock worth $44,243,272. Company insiders own 11.55% of the company's stock.

Alphabet Stock Down 0.9%

NASDAQ:GOOGL opened at $201.57 on Wednesday. The firm's 50 day simple moving average is $185.26 and its 200 day simple moving average is $173.20. 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 Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.44 trillion, a PE ratio of 21.47, a P/E/G ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. 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.

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