Trillium Asset Management LLC Sells 43,077 Shares of Alphabet Inc. $GOOGL

Trillium Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 820,326 shares of the information services provider's stock after selling 43,077 shares during the period. Alphabet comprises about 3.7% of Trillium Asset Management LLC's investment portfolio, making the stock its 4th biggest holding. Trillium Asset Management LLC's holdings in Alphabet were worth $126,855,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet during the first quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 over the last three months. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $0.43 during trading on Thursday, hitting $199.75. 19,647,085 shares of the company traded hands, compared to its average volume of 33,974,156. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.34 and a beta of 1.01. The business's fifty day moving average is $186.18 and its 200-day moving average is $173.37. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOGL. Morgan Stanley increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. DA Davidson increased their price target on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer increased their price target 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. Finally, Guggenheim increased their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $211.53.

Alphabet 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.