IPG Investment Advisors LLC Sells 2,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• IPG Investment Advisors LLC reduced its position in Alphabet Inc. by 6.4%, selling 2,500 shares, and now holds 36,614 shares valued at approximately $5.7 million.
• A significant number of large investors, including FMR LLC and GAMMA Investing LLC, have increased their stakes in Alphabet, indicating strong institutional interest in the company.
• Alphabet announced a quarterly dividend of $0.21, which will be paid on September 15th; this translates to an annual yield of 0.4% and a low dividend payout ratio of 8.95%.

IPG Investment Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 36,614 shares of the information services provider's stock after selling 2,500 shares during the period. Alphabet makes up about 1.3% of IPG Investment Advisors LLC's holdings, making the stock its 20th largest position. IPG Investment Advisors LLC's holdings in Alphabet were worth $5,662,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOGL. FMR LLC grew its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp boosted its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the period. Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP grew its position in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock worth $49,474,273. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL opened at $201.42 on Monday. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.36 and a beta of 1.01. The business's fifty day simple moving average is $180.89 and its two-hundred day simple moving average is $172.80. Alphabet Inc. has a 12 month low of $140.53 and a 12 month 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wedbush lifted their target price on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley upped their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. 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 company has an average rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Company 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.

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