Alphabet Inc. (NASDAQ:GOOGL) is GraniteShares Advisors LLC's 4th Largest Position

GraniteShares Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,608 shares of the information services provider's stock after selling 1,854 shares during the period. Alphabet makes up 1.9% of GraniteShares Advisors LLC's portfolio, making the stock its 4th biggest position. GraniteShares Advisors LLC's holdings in Alphabet were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Macroview Investment Management LLC raised its position in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after purchasing an additional 52 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares during the last quarter. Addison Advisors LLC boosted its holdings in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares in the last quarter. Burt Wealth Advisors raised its holdings in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its position in shares of Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. KeyCorp lifted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Mizuho lowered their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reduced their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Sanford C. Bernstein upped their price objective on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, Piper Sandler increased their price target 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 investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

GOOGL traded down $1.03 during trading hours on Friday, hitting $174.67. The company's stock had a trading volume of 27,636,835 shares, compared to its average volume of 30,391,108. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.01. The business's 50-day moving average price is $162.89 and its 200-day moving average price is $174.61. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the company posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.