Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 492,626 shares of the information services provider's stock after selling 171,584 shares during the quarter. Impax Asset Management Group plc's holdings in Alphabet were worth $76,180,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Burt Wealth Advisors boosted its position in Alphabet by 1.0% during the fourth 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. Perritt Capital Management Inc boosted its position in Alphabet by 10.4% during the fourth 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 in the last quarter. Nia Impact Advisors LLC boosted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares in the last quarter. Hanlon Investment Management Inc. boosted its position in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth boosted its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Trading Up 1.4%

GOOGL stock traded up $2.57 during midday trading on Friday, hitting $180.19. 34,243,157 shares of the company's stock were exchanged, compared to its average volume of 31,878,935. The business has a 50-day simple moving average of $170.32 and a two-hundred day simple moving average of $173.46. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00. 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 posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter last year, the firm earned $1.89 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. Wells Fargo & Company increased their price target on Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Finally, Roth Capital restated a "buy" rating and issued a $205.00 target price (up previously from $180.00) on shares of Alphabet in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.61.

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.