Tyche Wealth Partners LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tyche Wealth Partners LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,392 shares of the information services provider's stock after selling 1,709 shares during the period. Tyche Wealth Partners LLC's holdings in Alphabet were worth $2,689,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth $30,000. Anderson Financial Strategies LLC bought a new stake in Alphabet in the 4th quarter valued at about $49,000. Navigoe LLC purchased a new stake in Alphabet during the fourth quarter valued at about $51,000. Prudent Man Investment Management Inc. bought a new position in Alphabet during the fourth quarter worth about $53,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $57,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOOGL shares. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.95.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL traded up $0.44 during trading hours on Friday, reaching $179.08. The company's stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The firm has a 50-day simple moving average of $168.36 and a 200-day simple moving average of $174.08. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by insiders.

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.