Goodman Advisory Group LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Goodman Advisory Group LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 94.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,713 shares of the information services provider's stock after selling 43,919 shares during the period. Goodman Advisory Group LLC's holdings in Alphabet were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sovran Advisors LLC lifted its stake in shares of Alphabet by 77.2% in the first quarter. Sovran Advisors LLC now owns 13,619 shares of the information services provider's stock worth $2,059,000 after buying an additional 5,933 shares in the last quarter. Cohen Investment Advisors LLC lifted its stake in shares of Alphabet by 1,563.8% in the first quarter. Cohen Investment Advisors LLC now owns 488,942 shares of the information services provider's stock worth $76,000 after buying an additional 459,555 shares in the last quarter. RBA Wealth Management LLC lifted its stake in shares of Alphabet by 1.0% in the first quarter. RBA Wealth Management LLC now owns 47,431 shares of the information services provider's stock worth $7,335,000 after buying an additional 480 shares in the last quarter. Joel Isaacson & Co. LLC lifted its stake in shares of Alphabet by 0.3% in the first quarter. Joel Isaacson & Co. LLC now owns 479,103 shares of the information services provider's stock worth $74,089,000 after buying an additional 1,537 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its position in Alphabet by 7.6% during the first quarter. K.J. Harrison & Partners Inc now owns 58,598 shares of the information services provider's stock worth $9,062,000 after purchasing an additional 4,130 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Morgan Stanley cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Susquehanna cut their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Finally, KeyCorp raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $199.95.

Alphabet Stock Up 0.2%

Shares of GOOGL stock traded up $0.44 during trading on Friday, reaching $179.08. The company's stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The stock's 50-day moving average price is $168.70 and its 200 day moving average price is $173.97. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock worth $36,330,928 over the last 90 days. 11.64% 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.