PSI Advisors LLC Sells 1,913 Shares of Alphabet Inc. (NASDAQ:GOOGL)

PSI Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,408 shares of the information services provider's stock after selling 1,913 shares during the period. PSI Advisors LLC's holdings in Alphabet were worth $1,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Macroview Investment Management LLC raised its holdings in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after buying an additional 52 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after acquiring an additional 53 shares in the last quarter. Addison Advisors LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors boosted its position in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the period. Finally, Perritt Capital Management Inc raised its position in shares of Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $1.58 during mid-day trading on Tuesday, hitting $166.77. 40,435,654 shares of the stock traded hands, compared to its average volume of 30,734,442. The company has a market cap of $2.02 trillion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $164.89 and a two-hundred day simple moving average of $174.66.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,070 shares of company stock valued at $37,745,632. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GOOGL shares. Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Cantor Fitzgerald decreased their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Tigress Financial boosted their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Truist Financial cut their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.83.

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.