Silvant Capital Management LLC Sells 27,399 Shares of Alphabet Inc. $GOOGL

Key Points

• Silvant Capital Management LLC reduced its stake in Alphabet Inc. by 4.8%, selling 27,399 shares, leaving them with 542,377 shares, valued at approximately $83.87 million.
• Multiple institutional investors significantly increased their holdings in Alphabet during the first quarter, with Nuveen LLC investing over $4 billion and GAMMA Investing LLC increasing its stake by over 16,993%.
• Alphabet plans to pay a quarterly dividend of $0.21 on September 15th, which represents a dividend yield of 0.4% and a payout ratio of 8.95%.

Silvant Capital Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 542,377 shares of the information services provider's stock after selling 27,399 shares during the quarter. Alphabet comprises about 3.9% of Silvant Capital Management LLC's investment portfolio, making the stock its 6th biggest position. Silvant Capital Management LLC's holdings in Alphabet were worth $83,873,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Alphabet during the 1st quarter worth $4,317,606,000. GAMMA Investing LLC lifted its stake in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Wellington Management Group LLP lifted its stake in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JMP Securities increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Roth Capital increased their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Rosenblatt Securities increased their target price on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, DA Davidson increased their target price on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet Trading Up 2.0%

NASDAQ:GOOGL opened at $211.64 on Friday. The business's 50-day moving average is $189.51 and its two-hundred day moving average is $173.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $212.22. The firm has a market capitalization of $2.56 trillion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 for the quarter, compared to analyst estimates of $93.60 billion. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,608 shares of company stock valued at $47,204,035 over the last ninety days. 11.64% of the stock is currently owned by company insiders.

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.

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