Lmcg Investments LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lmcg Investments LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,188 shares of the information services provider's stock after selling 11,615 shares during the quarter. Alphabet comprises approximately 2.5% of Lmcg Investments LLC's holdings, making the stock its 6th largest position. Lmcg Investments LLC's holdings in Alphabet were worth $38,071,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth approximately $30,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new position in Alphabet in the 4th quarter valued at $49,000. Finally, Navigoe LLC bought a new position in Alphabet in the 4th quarter worth $51,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 3.3%

NASDAQ:GOOGL traded up $5.47 during trading hours on Friday, hitting $173.68. The stock had a trading volume of 35,701,262 shares, compared to its average volume of 30,134,355. The business's 50 day moving average is $159.81 and its 200-day moving average is $174.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the company earned $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Roth Mkm reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Cantor Fitzgerald lowered their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company upped their price target on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Citigroup raised their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Activity

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last 90 days. Corporate insiders own 11.64% of the company's stock.

Alphabet Company Profile

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.