Perissos Private Wealth Management LLC Sells 5,943 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Perissos Private Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,000 shares of the information services provider's stock after selling 5,943 shares during the period. Perissos Private Wealth Management LLC's holdings in Alphabet were worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GOOGL. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $49,000. EQ Wealth Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth about $49,000. Navigoe LLC acquired a new stake in Alphabet during the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $53,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.08 on Friday. The stock has a market capitalization of $2.17 trillion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock's 50-day moving average price is $168.70 and its 200 day moving average price is $173.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Rosenblatt Securities reissued a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. JMP Securities raised Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Citigroup reaffirmed a "buy" rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Finally, Truist Financial reiterated a "buy" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.95.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

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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