Resolute Advisors LLC Sells 3,510 Shares of Alphabet Inc. $GOOGL

Key Points

• Resolute Advisors LLC reduced its holdings in Alphabet Inc. by 86.1% during the first quarter, leaving them with shares valued at $88,000.
• Several institutional investors increased their stakes in Alphabet, with Guardian Wealth Management boosting its position by 242.9%, indicating a growing interest in the company.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which reflects a 0.4% annualized yield and a payout ratio of 8.95%.

Resolute Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 86.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 566 shares of the information services provider's stock after selling 3,510 shares during the period. Resolute Advisors LLC's holdings in Alphabet were worth $88,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Mystic Asset Management Inc. grew its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth $3,119,000. Cypress Capital LLC increased its position in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the period. Finally, Falcon Wealth Planning raised its stake in Alphabet by 15.7% in the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after purchasing an additional 1,340 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOGL shares. Westpark Capital lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group lifted their target price on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Roth Capital increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Trading Up 0.6%

NASDAQ:GOOGL traded up $1.27 during trading hours on Friday, hitting $212.91. 39,702,089 shares of the company were exchanged, compared to its average volume of 28,893,466. The stock has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $214.65. The company has a fifty day simple moving average of $190.44 and a 200 day simple moving average of $174.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on 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 transaction, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,710 shares of company stock valued at $47,225,230. 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.