Lee Financial Co decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,872 shares of the information services provider's stock after selling 2,168 shares during the quarter. Lee Financial Co's holdings in Alphabet were worth $599,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the first quarter worth about $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Barclays upped their price target on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Stifel Nicolaus increased their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein increased their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.53.
Check Out Our Latest Research Report on Alphabet
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 in the last ninety days. Corporate insiders own 11.64% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock opened at $206.09 on Friday. The stock has a 50 day moving average of $186.81 and a 200 day moving average of $173.37. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $208.54. The firm has a market cap of $2.49 trillion, a PE ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.
Alphabet Company Profile
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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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