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MRP Capital Investments LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Alphabet logo with Computer and Technology background

MRP Capital Investments LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 55.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,540 shares of the information services provider's stock after selling 6,910 shares during the period. MRP Capital Investments LLC's holdings in Alphabet were worth $857,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Perritt Capital Management Inc grew its stake in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its holdings in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares in the last quarter. Hanlon Investment Management Inc. grew its position in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after buying an additional 60 shares during the last quarter. Enzi Wealth raised its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its position in Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. Stifel Nicolaus lifted their price target 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 lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Susquehanna increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Bank of America increased their target price 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. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Check Out Our Latest Stock Report on Alphabet

Alphabet Stock Performance

Alphabet stock opened at $189.13 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 20.14, a PEG ratio of 1.28 and a beta of 1.01. The stock has a fifty day moving average price of $178.32 and a 200 day moving average price of $172.82. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet Announces Dividend

The company also recently announced 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated 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 transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

About Alphabet

(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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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