Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by SMART Wealth LLC

SMART Wealth LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 67.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,533 shares of the information services provider's stock after selling 5,169 shares during the quarter. SMART Wealth LLC's holdings in Alphabet were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Burt Wealth Advisors lifted its position in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after buying an additional 54 shares in the last quarter. Perritt Capital Management Inc increased its holdings in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC raised its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after acquiring an additional 59 shares during the period. Hanlon Investment Management Inc. lifted its holdings in Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth lifted its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Rosenblatt Securities reissued a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. KeyCorp boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. JMP Securities raised Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Finally, Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $199.61.

Alphabet Stock Up 1.4%

Shares of GOOGL traded up $2.57 during mid-day trading on Friday, hitting $180.19. 34,243,157 shares of the company's stock were exchanged, compared to its average volume of 37,750,108. The stock's 50-day moving average is $169.99 and its 200-day moving average is $173.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.25 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business earned $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was 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 215,643 shares of company stock valued at $36,330,928 over the last 90 days. 11.64% of the stock is owned by corporate 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.