GEM Asset Management LLC Sells 1,638 Shares of Alphabet Inc. (NASDAQ:GOOGL)

GEM Asset Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,417 shares of the information services provider's stock after selling 1,638 shares during the period. GEM Asset Management LLC's holdings in Alphabet were worth $1,165,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. PayPay Securities Corp grew its position in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new stake in Alphabet during the 4th quarter valued at $49,000. Navigoe LLC bought a new stake in Alphabet during the 4th quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in Alphabet during the fourth quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL stock opened at $175.95 on Wednesday. The firm has a 50 day simple moving average of $163.88 and a two-hundred day simple moving average of $174.74. The stock has a market cap of $2.14 trillion, a PE ratio of 19.62, a P/E/G ratio of 1.13 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Morgan Stanley decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Westpark Capital reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Buying and Selling

In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 in the last quarter. 11.55% of the stock is owned by insiders.

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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