Nkcfo LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Nkcfo LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,100 shares of the information services provider's stock after selling 15,500 shares during the period. Alphabet makes up about 2.1% of Nkcfo LLC's holdings, making the stock its 12th largest holding. Nkcfo LLC's holdings in Alphabet were worth $4,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GOOGL. Mystic Asset Management Inc. grew its position in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC lifted its stake in 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 purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC lifted its stake in 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 purchasing an additional 403 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm'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 directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock worth $43,525,794. Corporate insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. DA Davidson upped their price target on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet Stock Performance

NASDAQ GOOGL opened at $195.04 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business's 50-day moving average price is $178.85 and its 200 day moving average price is $172.81. The firm has a market cap of $2.36 trillion, a P/E ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued 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 dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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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