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

PSI Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other institutional investors have also modified their holdings of the company. Grandview Asset Management LLC lifted its stake in Alphabet by 0.7% during the first quarter. Grandview Asset Management LLC now owns 15,023 shares of the information services provider's stock valued at $2,323,000 after purchasing an additional 98 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Alphabet by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 774,799 shares of the information services provider's stock valued at $119,814,000 after buying an additional 17,410 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Alphabet by 18.1% in the first quarter. CWA Asset Management Group LLC now owns 118,628 shares of the information services provider's stock valued at $18,345,000 after buying an additional 18,161 shares in the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Alphabet by 43.2% during the 1st quarter. MFA Wealth Advisors LLC now owns 30,220 shares of the information services provider's stock valued at $4,673,000 after acquiring an additional 9,124 shares during the last quarter. Finally, LifeWealth Investments LLC boosted its stake in shares of Alphabet by 52.0% during the 1st quarter. LifeWealth Investments LLC now owns 10,123 shares of the information services provider's stock worth $1,565,000 after acquiring an additional 3,462 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded down $1.45 during trading hours on Monday, reaching $165.19. 56,734,523 shares of the company were exchanged, compared to its average volume of 30,697,400. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $164.77 and a 200 day moving average of $174.73. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.06 and a beta of 1.01.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,070 shares of company stock worth $37,745,632. Company insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. UBS Group set a $195.00 target price on shares of Alphabet in a report on Friday, April 25th. Jefferies Financial Group cut their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.