GW&K Investment Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,524 shares of the information services provider's stock after selling 1,439 shares during the period. GW&K Investment Management LLC's holdings in Alphabet were worth $33,329,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter worth about $39,000. Anderson Financial Strategies LLC purchased a new position in Alphabet during the fourth quarter worth about $49,000. Navigoe LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $51,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $42,000. Institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on GOOGL shares. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Piper Sandler upped their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Cantor Fitzgerald raised their price objective on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Sanford C. Bernstein upped their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.
Read Our Latest Analysis on GOOGL
Alphabet Trading Down 2.4%
Shares of NASDAQ GOOGL traded down $4.62 during trading hours on Thursday, reaching $191.91. The stock had a trading volume of 18,906,998 shares, compared to its average volume of 36,930,727. The firm has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's fifty day moving average price is $177.49 and its two-hundred day moving average price is $173.11.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,298 shares of company stock valued at $43,505,967 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.
About Alphabet
(
Free Report)
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.
See Also
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
