Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by SYM FINANCIAL Corp

Key Points

• SYM FINANCIAL Corp increased its stake in Alphabet Inc. by 17.1%, acquiring an additional 1,383 shares and bringing its total holdings to 9,468 shares worth approximately $1.46 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for around $5.99 million, decreasing his ownership by 1.27%.
• Alphabet's quarterly dividend was announced at $0.21 per share, with a scheduled payment date of September 15, 2023.

SYM FINANCIAL Corp grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,468 shares of the information services provider's stock after purchasing an additional 1,383 shares during the period. SYM FINANCIAL Corp's holdings in Alphabet were worth $1,464,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. bought a new stake in Alphabet in the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter worth about $39,000. Elite Financial Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $49,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $49,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock valued at $43,525,794. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Roth Capital increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Barclays increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $211.39.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $2.77 during midday trading on Friday, reaching $189.13. The company had a trading volume of 34,777,882 shares, compared to its average volume of 37,170,977. The business's 50-day simple moving average is $177.91 and its 200 day simple moving average is $173.12. The stock has a market cap of $2.30 trillion, a P/E ratio of 20.14, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. 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 (DPR) is 8.95%.

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.