Regal Partners Ltd Has $568,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Regal Partners Ltd reduced its stake in Alphabet Inc. by 63.6%, selling 6,364 shares and now holding 3,636 shares valued at approximately $568,000.
• Insider trading activities included directors John L. Hennessy and Kavitark Ram Shriram selling shares, which decreased their positions by 12.63% and 5.87%, respectively.
• Alphabet announced a quarterly dividend of $0.21 per share, representing a 0.4% dividend yield, with the payout scheduled for September 15th.

Regal Partners Ltd lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 63.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,636 shares of the information services provider's stock after selling 6,364 shares during the quarter. Regal Partners Ltd's holdings in Alphabet were worth $568,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC boosted its position in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky raised its position in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC raised its position in Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the period. Fermata Advisors LLC raised its position in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after buying an additional 259 shares during the period. Finally, jvl associates llc raised its position in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Trading Up 0.4%

Shares of NASDAQ GOOG traded up $0.79 during midday trading on Thursday, hitting $203.82. The stock had a trading volume of 17,610,143 shares, compared to its average volume of 24,017,828. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.46 trillion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The company's 50-day simple moving average is $183.93 and its 200 day simple moving average is $174.75.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly 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 analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet 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 sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated 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 completion of the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,219 shares of company stock valued at $49,674,273. 12.99% of the stock is currently owned by company 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.