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Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Simplex Trading LLC

Alphabet logo with Computer and Technology background

Key Points

  • Simplex Trading LLC has reduced its holdings in Alphabet Inc. by 96%, owning only 74,827 shares valued at about $11.69 million after selling 1.77 million shares in the first quarter.
  • CEO Sundar Pichai and Director Kavitark Ram Shriram sold shares of Alphabet stock, with Pichai selling 32,500 shares valued at over $6.3 million and Shriram selling 15,000 shares valued at approximately $2.8 million.
  • Analysts have varying ratings on Alphabet, with a consensus rating of "Moderate Buy" and a price target of $215.19, while a quarterly dividend of $0.21 has also been declared.
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Simplex Trading LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 96.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,827 shares of the information services provider's stock after selling 1,773,851 shares during the period. Simplex Trading LLC's holdings in Alphabet were worth $11,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. LSV Asset Management purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Pivotal Research boosted their price target on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank boosted their price target on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Finally, Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Check Out Our Latest Analysis on GOOG

Alphabet Stock Down 0.2%

Shares of GOOG stock traded down $0.46 during trading hours on Monday, reaching $201.63. 16,675,980 shares of the company's stock were exchanged, compared to its average volume of 24,116,525. The stock's 50 day moving average is $181.90 and its 200-day moving average is $174.35. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.34 and a beta of 1.02. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm's revenue was up 13.8% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 8.89 earnings per share 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company'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 $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 in the last ninety days. Company insiders own 12.99% of the company's stock.

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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