Janney Capital Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,013 shares of the information services provider's stock after selling 2,286 shares during the period. Janney Capital Management LLC's holdings in Alphabet were worth $12,837,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Macroview Investment Management LLC boosted its stake in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after acquiring an additional 52 shares in the last quarter. Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc boosted its stake in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Finally, Nia Impact Advisors LLC boosted its stake in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,070 shares of company stock valued at $37,745,632. 11.55% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have commented on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group lowered their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Read Our Latest Research Report on GOOGL
Alphabet Stock Down 3.9%
Shares of GOOGL traded down $6.68 during midday trading on Friday, hitting $166.64. The stock had a trading volume of 75,073,701 shares, compared to its average volume of 30,587,197. The company has a 50 day simple moving average of $164.77 and a two-hundred day simple moving average of $174.73. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. On average, analysts anticipate 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. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
About Alphabet
(
Free Report)
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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