Teamwork Financial Advisors LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Teamwork Financial Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,172 shares of the information services provider's stock after selling 63,149 shares during the period. Alphabet makes up approximately 1.1% of Teamwork Financial Advisors LLC's investment portfolio, making the stock its 26th biggest holding. Teamwork Financial Advisors LLC's holdings in Alphabet were worth $8,068,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $24,383,677,000. FMR LLC raised its stake in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp grew its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were 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 in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,770 shares of company stock valued at $32,036,638. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. UBS Group set a $195.00 price target on shares of Alphabet in a research report on Friday, April 25th. DA Davidson lowered their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. KeyCorp increased their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Truist Financial cut their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Price Performance

Shares of Alphabet stock traded up $0.16 on Thursday, reaching $168.21. The company's stock had a trading volume of 34,550,448 shares, compared to its average volume of 30,080,243. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average price of $159.54 and a 200-day moving average price of $174.43. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

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 for the quarter, beating 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 business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm 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 represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is 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.