State of Wyoming Sells 1,469 Shares of Alphabet Inc. $GOOGL

Key Points

• The State of Wyoming reduced its holdings in Alphabet Inc. by 4.2%, retaining 33,120 shares valued at approximately $5.1 million.
• Insider transactions include John L. Hennessy selling 1,000 shares for $200,000 and John Kent Walker selling 23,820 shares worth $4.6 million, reflecting significant decreases in their positions.
• Analyst ratings for Alphabet show a consensus of Moderate Buy with a target price of $211.53, and four analysts have rated it as Strong Buy.

State of Wyoming reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,120 shares of the information services provider's stock after selling 1,469 shares during the period. Alphabet accounts for approximately 0.7% of State of Wyoming's portfolio, making the stock its 12th largest holding. State of Wyoming's holdings in Alphabet were worth $5,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nia Impact Advisors LLC raised its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares during the period. Enzi Wealth raised its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC increased its position in shares of Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Bank of America increased their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Guggenheim raised their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler raised their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated 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 completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $47,225,230 over the last quarter. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Up 0.6%

Shares of GOOGL traded up $1.27 during trading hours on Friday, hitting $212.91. The company had a trading volume of 39,702,089 shares, compared to its average volume of 29,138,272. The firm has a fifty day moving average price of $190.44 and a 200-day moving average price of $173.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65.

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, topping 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 during the quarter, compared to the consensus estimate of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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