Sargent Investment Group LLC Has $7.87 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Sargent Investment Group LLC increased its stake in Alphabet Inc. by 5.2% in the first quarter, owning 50,921 shares worth approximately $7.87 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet at an average price of $178.52, reducing his ownership by 1.25% to approximately 2.56 million shares valued at about $457 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, representing a 0.44% yield, with the ex-dividend date set for September 8th.

Sargent Investment Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,921 shares of the information services provider's stock after purchasing an additional 2,525 shares during the period. Alphabet accounts for approximately 1.3% of Sargent Investment Group LLC's holdings, making the stock its 23rd largest position. Sargent Investment Group LLC's holdings in Alphabet were worth $7,874,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $39,000. Elite Financial Inc. bought a new stake in Alphabet in the 1st quarter valued at $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $49,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $49,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Sanford C. Bernstein increased their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JMP Securities increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Finally, KeyCorp upped their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,298 shares of company stock valued at $43,505,967 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $4.49 during trading on Thursday, reaching $192.04. The company had a trading volume of 18,906,998 shares, compared to its average volume of 36,930,727. The stock has a market capitalization of $2.33 trillion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $177.49 and a two-hundred day moving average price of $173.11. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. Alphabet's payout ratio is 8.95%.

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.