Kidder Stephen W Sells 1,892 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Kidder Stephen W reduced its stake in Alphabet Inc. by 2.1% during Q1, holding 89,615 shares valued at approximately $13.86 million. This makes Alphabet the firm's fifth largest holding.
• Several institutional investors have recently adjusted their positions in Alphabet, including Perritt Capital Management which raised its holdings by 10.4%.
• Alphabet declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.43%, to be paid on September 15th to shareholders recorded by September 8th.

Kidder Stephen W reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,615 shares of the information services provider's stock after selling 1,892 shares during the period. Alphabet comprises about 4.3% of Kidder Stephen W's holdings, making the stock its 5th largest position. Kidder Stephen W's holdings in Alphabet were worth $13,858,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter worth $39,000. Anderson Financial Strategies LLC acquired a new position in Alphabet during the 4th quarter valued at $49,000. Navigoe LLC bought a new stake in Alphabet in the 4th quarter valued at $51,000. Finally, Elite Financial Inc. acquired a new stake in Alphabet in the 1st quarter worth $42,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.4%

GOOGL stock traded up $0.78 during midday trading on Wednesday, reaching $196.53. The company's stock had a trading volume of 32,265,287 shares, compared to its average volume of 37,021,776. The business's 50-day simple moving average is $177.49 and its 200-day simple moving average is $173.11. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00.

Alphabet Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.43%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on 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 owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,298 shares of company stock worth $43,505,967 in the last three months. Insiders own 11.64% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Wells Fargo & Company increased their target price on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. DA Davidson lifted their price objective on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Bank of America lifted their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $211.39.

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.