NWK Group Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,469 shares of the information services provider's stock after selling 1,262 shares during the quarter. Alphabet makes up about 3.4% of NWK Group Inc.'s portfolio, making the stock its 11th largest holding. NWK Group Inc.'s holdings in Alphabet were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the business. Condor Capital Management raised its holdings in shares of Alphabet by 0.7% in the first quarter. Condor Capital Management now owns 96,656 shares of the information services provider's stock valued at $14,947,000 after purchasing an additional 707 shares during the last quarter. Koss Olinger Consulting LLC purchased a new position in shares of Alphabet during the first quarter worth approximately $810,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Alphabet by 47.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,007 shares of the information services provider's stock valued at $51,342,000 after acquiring an additional 106,202 shares in the last quarter. Riverpark Capital Management LLC boosted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Riverpark Capital Management LLC now owns 8,572 shares of the information services provider's stock valued at $1,326,000 after buying an additional 150 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Alphabet during the 1st quarter valued at $9,222,000. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $203.90 on Friday. 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 stock has a 50 day simple moving average of $184.25 and a 200-day simple moving average of $173.35. The company has a market cap of $2.47 trillion, a PE ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,819 shares of company stock valued at $49,796,547. 11.64% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of recent analyst reports. JMP Securities boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Bank of America upped their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.
Check Out Our Latest Research Report on GOOGL
Alphabet Company Profile
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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.
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