Jackson Hole Capital Partners LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Jackson Hole Capital Partners LLC reduced its stake in Alphabet Inc. by 12.4% during the first quarter, selling 1,588 shares to hold a total of 11,216 shares valued at approximately $1.73 million.
• Analysts have varied ratings and price targets for Alphabet, with a consensus price target of $211.39, while Bank of America raised its target from $210 to $217, reflecting ongoing positive sentiment despite some downgrades.
• Alphabet announced a quarterly dividend of $0.21 per share, with the dividend yield standing at 0.4%, and the payout date set for September 15th.

Jackson Hole Capital Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,216 shares of the information services provider's stock after selling 1,588 shares during the period. Jackson Hole Capital Partners LLC's holdings in Alphabet were worth $1,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth $39,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock worth $43,525,794 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Westpark Capital lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group boosted their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Stock Performance

Shares of Alphabet stock traded down $2.77 on Friday, reaching $189.13. 34,777,882 shares of the stock were exchanged, compared to its average volume of 38,669,572. Alphabet Inc. has a 1-year low of $140.53 and a 1-year 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 has a fifty day moving average price of $178.32 and a two-hundred day moving average price of $173.12. The firm has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

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.