San Luis Wealth Advisors LLC Sells 16,379 Shares of Alphabet Inc. (NASDAQ:GOOGL)

San Luis Wealth Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,506 shares of the information services provider's stock after selling 16,379 shares during the period. Alphabet accounts for about 1.5% of San Luis Wealth Advisors LLC's portfolio, making the stock its 16th largest holding. San Luis Wealth Advisors LLC's holdings in Alphabet were worth $7,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Huntleigh Advisors Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $30,928,000. Bell Bank increased its stake in shares of Alphabet by 9.8% during the 1st quarter. Bell Bank now owns 43,652 shares of the information services provider's stock worth $6,750,000 after purchasing an additional 3,905 shares during the last quarter. PKO Investment Management Joint Stock Co increased its stake in shares of Alphabet by 93.3% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 145,000 shares of the information services provider's stock worth $22,423,000 after purchasing an additional 70,000 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Alphabet by 22.5% during the 1st quarter. Rakuten Securities Inc. now owns 13,400 shares of the information services provider's stock worth $2,072,000 after purchasing an additional 2,458 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its stake in shares of Alphabet by 7.6% during the 1st quarter. Insigneo Advisory Services LLC now owns 109,493 shares of the information services provider's stock worth $16,932,000 after purchasing an additional 7,733 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock traded down $6.68 during trading on Friday, reaching $166.64. 75,073,701 shares of the company were exchanged, compared to its average volume of 30,699,179. The company has a 50-day moving average of $164.77 and a two-hundred day moving average of $174.71. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.11 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.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 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 sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,070 shares of company stock worth $37,745,632. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOGL shares. Bank of America boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets restated 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. Finally, Truist Financial reduced their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $199.75.

About Alphabet

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.