Valicenti Advisory Services Inc. Sells 5,765 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Valicenti Advisory Services Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,361 shares of the information services provider's stock after selling 5,765 shares during the quarter. Alphabet accounts for 3.4% of Valicenti Advisory Services Inc.'s holdings, making the stock its 8th largest position. Valicenti Advisory Services Inc.'s holdings in Alphabet were worth $13,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at $49,000. EQ Wealth Advisors LLC acquired a new stake in Alphabet in the 1st quarter valued at $49,000. Navigoe LLC purchased a new stake in Alphabet in the 4th quarter worth $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in Alphabet during the fourth quarter worth $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 in the last ninety days. Company insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOGL shares. Piper Sandler lifted 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. KeyCorp lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Tigress Financial increased their target price on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Wednesday, June 25th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Trading Up 2.9%

Shares of NASDAQ GOOGL opened at $178.53 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.17 trillion, a PE ratio of 19.90, a PEG ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a fifty day simple moving average of $166.45 and a 200-day simple moving average of $174.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

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.