Trek Financial LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,938 shares of the information services provider's stock after selling 1,893 shares during the period. Trek Financial LLC's holdings in Alphabet were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in Alphabet by 2.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,596,975 shares of the information services provider's stock valued at $1,768,401,000 after purchasing an additional 312,036 shares during the period. Personal CFO Solutions LLC lifted its stake in shares of Alphabet by 1.7% in the first quarter. Personal CFO Solutions LLC now owns 57,151 shares of the information services provider's stock worth $8,838,000 after acquiring an additional 935 shares during the period. Opus Capital Group LLC bought a new stake in Alphabet in the first quarter valued at approximately $249,000. AlphaStar Capital Management LLC increased its position in Alphabet by 9.9% during the 1st quarter. AlphaStar Capital Management LLC now owns 63,243 shares of the information services provider's stock valued at $9,780,000 after purchasing an additional 5,691 shares during the period. Finally, BXM Wealth LLC raised its holdings in Alphabet by 24.6% during the 1st quarter. BXM Wealth LLC now owns 10,755 shares of the information services provider's stock worth $1,666,000 after purchasing an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on GOOGL shares. Jefferies Financial Group lowered their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Roth Mkm restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Finally, Morgan Stanley dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.61.
Read Our Latest Report on Alphabet
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 215,443 shares of company stock worth $36,298,548. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
NASDAQ GOOGL opened at $181.56 on Tuesday. The company's 50 day simple moving average is $170.66 and its two-hundred day simple moving average is $173.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market capitalization of $2.20 trillion, a PE ratio of 20.24, a P/E/G ratio of 1.27 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the company earned $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Alphabet Company Profile
(
Free Report)
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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