Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Next Capital Management LLC

Key Points

• Next Capital Management LLC has sold 2,055 shares of Alphabet Inc., decreasing its holdings by 40.4% to 3,027 shares, which are valued at $468,000 as of the latest SEC filing.
• During the first quarter, several institutional investors increased their positions in Alphabet, with Legato Capital Management LLC notably raising its holdings by 65.0%.
• Alphabet declared a quarterly dividend of $0.21 per share, which will be paid on September 15th, representing an annual yield of 0.43%.

Next Capital Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,027 shares of the information services provider's stock after selling 2,055 shares during the quarter. Next Capital Management LLC's holdings in Alphabet were worth $468,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its position in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the period. Finally, Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company'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 sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,298 shares of company stock worth $43,505,967. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock traded up $0.78 during trading hours on Wednesday, hitting $196.53. The stock had a trading volume of 32,265,287 shares, compared to its average volume of 37,021,776. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.38 trillion, a PE ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. The stock's 50 day moving average is $177.49 and its 200 day moving average is $173.11. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOGL. Westpark Capital increased their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wedbush raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Bank of America upped 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. Finally, Roth Capital increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.39.

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.