Trifecta Capital Advisors LLC Sells 3,725 Shares of Alphabet Inc. $GOOGL

Key Points

• Trifecta Capital Advisors LLC decreased its stake in Alphabet Inc. by 20.2%, selling 3,725 shares, leading to a total ownership of 14,747 shares worth approximately $2.6 million.
• Alphabet reported strong quarterly earnings, with an EPS of $2.31, exceeding expectations, and a revenue of $96.43 billion, also surpassing estimates.
• The company recently declared a quarterly dividend of $0.21 per share, yielding 0.3% annually, reflecting an 8.95% dividend payout ratio.

Trifecta Capital Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,747 shares of the information services provider's stock after selling 3,725 shares during the quarter. Trifecta Capital Advisors LLC's holdings in Alphabet were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Amundi boosted its position in shares of Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its position in shares of Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider's stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.7%

GOOGL stock opened at $253.30 on Friday. The company has a market capitalization of $3.06 trillion, a PE ratio of 26.98, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.96. The firm's 50-day moving average is $231.55 and its 200 day moving average is $191.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $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 246,150 shares of company stock worth $55,805,379 in the last three months. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GOOGL shares. Jefferies Financial Group upped their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Barclays upped their target price on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Needham & Company LLC upped their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, JMP Securities upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research note on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $252.24.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.