Martingale Asset Management L P Sells 25,207 Shares of Alphabet Inc. $GOOGL

Martingale Asset Management L P lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 291,126 shares of the information services provider's stock after selling 25,207 shares during the quarter. Alphabet comprises about 1.1% of Martingale Asset Management L P's investment portfolio, making the stock its 6th largest position. Martingale Asset Management L P's holdings in Alphabet were worth $45,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Elevate Wealth Advisory Inc. acquired a new position in Alphabet in the first quarter worth $516,000. PGIM Custom Harvest LLC raised its position in shares of Alphabet by 60.9% during the first quarter. PGIM Custom Harvest LLC now owns 19,461 shares of the information services provider's stock worth $3,009,000 after acquiring an additional 7,367 shares during the last quarter. Fosun International Ltd raised its position in shares of Alphabet by 11.8% during the first quarter. Fosun International Ltd now owns 18,498 shares of the information services provider's stock worth $2,861,000 after acquiring an additional 1,959 shares during the last quarter. Osterweis Capital Management Inc. raised its position in shares of Alphabet by 2.0% during the first quarter. Osterweis Capital Management Inc. now owns 4,912 shares of the information services provider's stock worth $760,000 after acquiring an additional 95 shares during the last quarter. Finally, TFB Advisors LLC raised its position in shares of Alphabet by 1.9% during the first quarter. TFB Advisors LLC now owns 20,767 shares of the information services provider's stock worth $3,211,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet 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 value 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. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% 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 three months. Insiders own 11.55% of the company's stock.

Alphabet Trading Up 3.2%

NASDAQ GOOGL opened at $206.09 on Monday. The stock has a 50-day simple moving average of $186.81 and a 200 day simple moving average of $173.12. The company has a market capitalization of $2.49 trillion, a PE ratio of 21.95, a P/E/G ratio of 1.39 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 Inc. has a 12 month low of $140.53 and a 12 month high of $208.54.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Susquehanna boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. DA Davidson boosted their target price on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.53.

Alphabet 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.

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