Paradigm Capital Management LLC NV Sells 1,675 Shares of Alphabet Inc. $GOOG

Key Points

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Paradigm Capital Management LLC NV lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,238 shares of the information services provider's stock after selling 1,675 shares during the quarter. Alphabet makes up 2.1% of Paradigm Capital Management LLC NV's portfolio, making the stock its 14th biggest position. Paradigm Capital Management LLC NV's holdings in Alphabet were worth $2,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the first quarter worth $26,000. Goodman Advisory Group LLC bought a new position in Alphabet in the first quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the first quarter worth $32,000. Finally, Graybill Wealth Management LTD. bought a new position in shares of Alphabet during the first quarter valued at $44,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 0.3%

Shares of NASDAQ:GOOG opened at $204.29 on Tuesday. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock's 50-day simple moving average is $185.74 and its two-hundred day simple moving average is $174.51. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock valued at $49,796,547 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and set a $235.00 price target (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

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.

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