KDT Advisors LLC Cuts Position in Alphabet Inc. $GOOGL

Key Points

• KDT Advisors LLC reduced its stake in Alphabet Inc. (GOOGL) by 11.2%, now holding 11,130 shares valued at approximately $1,721,000.
• Following recent transactions, institutional investors own 40.03% of Alphabet's stock, indicating significant institutional activity.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with expectations of earnings per share of 8.9 for the current fiscal year.

KDT Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,130 shares of the information services provider's stock after selling 1,406 shares during the quarter. Alphabet accounts for about 2.5% of KDT Advisors LLC's investment portfolio, making the stock its 7th largest holding. KDT Advisors LLC's holdings in Alphabet were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOGL. Nuveen LLC bought a new stake in shares of Alphabet in the first quarter worth approximately $4,317,606,000. GAMMA Investing LLC boosted 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 buying an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after buying an additional 7,774,811 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet in the fourth quarter worth approximately $1,375,509,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOGL shares. Tigress Financial raised their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Finally, Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $221.44.

Alphabet Price Performance

Shares of GOOGL stock traded up $2.95 during mid-day trading on Tuesday, hitting $236.99. The company had a trading volume of 14,408,431 shares, compared to its average volume of 36,655,281. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $238.13. The stock's 50 day moving average price is $196.95 and its 200-day moving average price is $175.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.87 trillion, a P/E ratio of 25.22, a P/E/G ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

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.