Sulzberger Capital Advisors Inc. Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sulzberger Capital Advisors Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,457 shares of the information services provider's stock after selling 3,737 shares during the quarter. Alphabet accounts for 2.3% of Sulzberger Capital Advisors Inc.'s portfolio, making the stock its 12th biggest holding. Sulzberger Capital Advisors Inc.'s holdings in Alphabet were worth $1,772,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new stake in Alphabet during the fourth quarter worth $30,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp boosted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter worth $49,000. Finally, Navigoe LLC purchased a new stake in Alphabet during the fourth quarter worth $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOGL. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $178.00 price target on shares of Alphabet in a report on Friday, April 25th. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $173.68 on Friday. The firm has a market capitalization of $2.11 trillion, a PE ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50-day moving average of $160.14 and a two-hundred day moving average of $174.34. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.

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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