Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,534 shares of the information services provider's stock after selling 1,849 shares during the period. Alphabet accounts for about 1.2% of Jaffetilchin Investment Partners LLC's investment portfolio, making the stock its 22nd biggest holding. Jaffetilchin Investment Partners LLC's holdings in Alphabet were worth $16,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at about $24,383,677,000. FMR LLC grew its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position 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 acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors lifted its position 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 acquiring an additional 10,037,685 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated 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 owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 over the last 90 days. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $0.44 during trading on Friday, hitting $179.08. 21,689,729 shares of the stock traded hands, compared to its average volume of 31,547,766. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $168.70 and a two-hundred day moving average price of $173.97. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the company earned $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Bank of America raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Finally, Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.95.

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.