InTrack Investment Management Inc Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

InTrack Investment Management Inc lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,480 shares of the information services provider's stock after selling 2,000 shares during the period. InTrack Investment Management Inc's holdings in Alphabet were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet during the fourth quarter valued at approximately $30,000. PayPay Securities Corp increased its position in shares of 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 acquiring an additional 65 shares during the period. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $49,000. Navigoe LLC purchased a new position in Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in Alphabet during the fourth quarter valued at $53,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $1.65 during midday trading on Thursday, hitting $175.70. The stock had a trading volume of 20,879,613 shares, compared to its average volume of 30,364,105. The company has a market capitalization of $2.13 trillion, a PE ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a 50 day moving average price of $161.71 and a two-hundred day moving average price of $174.51. 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 (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the company earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 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. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald dropped their price objective 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. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Citigroup increased their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Insider Activity

In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last 90 days. 11.64% of the stock is currently owned by corporate 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.