Alphabet Inc. $GOOGL Shares Sold by Windward Capital Management Co. CA

Key Points

• Windward Capital Management Co. CA reduced its holdings in Alphabet Inc. by 3.7%, now owning 287,759 shares valued at approximately $44.5 million.
• Alphabet recently declared a $0.21 quarterly dividend, which will be paid on September 15th, representing a 0.4% yield.
• Several brokerages have raised their price targets for Alphabet, with BMO Capital Markets setting a new target of $225.00, reflecting a positive outlook for the stock.

Windward Capital Management Co. CA cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,759 shares of the information services provider's stock after selling 10,985 shares during the quarter. Alphabet accounts for about 3.8% of Windward Capital Management Co. CA's holdings, making the stock its 7th biggest holding. Windward Capital Management Co. CA's holdings in Alphabet were worth $44,499,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Nia Impact Advisors LLC raised its holdings in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth increased its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares in the last quarter. Aspire Capital Advisors LLC grew its position in shares of Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after purchasing an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. grew its position in Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 3.2%

Shares of NASDAQ:GOOGL traded up $6.34 during mid-day trading on Friday, reaching $206.09. The stock had a trading volume of 42,770,206 shares, compared to its average volume of 31,218,810. The firm has a market cap of $2.49 trillion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm has a 50 day simple moving average of $186.81 and a two-hundred day simple moving average of $173.37. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $208.54.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 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 predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. 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. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday. BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Piper Sandler lifted their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. DA Davidson lifted their price target on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.