Nwam LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Nwam LLC has significantly reduced its stake in Alphabet Inc. by 88.2%, selling 55,743 shares and now holding just 7,461 shares valued at $1,154,000.
• Alphabet recently reported earnings of $2.81 EPS, surpassing analyst expectations of $2.02, with revenues totaling $76.49 billion for the quarter.
• The firm declared a quarterly dividend of $0.21 per share, with an ex-dividend date set for September 8th, yielding an annualized dividend of 0.43%.

Nwam LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 88.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,461 shares of the information services provider's stock after selling 55,743 shares during the quarter. Nwam LLC's holdings in Alphabet were worth $1,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Norges Bank bought a new position in Alphabet in the fourth quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock traded up $1.01 during mid-day trading on Friday, hitting $193.18. 39,738,342 shares of the stock were exchanged, compared to its average volume of 41,427,228. The stock's fifty day simple moving average is $175.77 and its two-hundred day simple moving average is $172.93. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same quarter last year, the company posted $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

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 249,409 shares of company stock worth $43,523,710. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday. Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Citigroup lifted their price objective on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Rosenblatt Securities raised their price objective on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $211.32.

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.