Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Alhambra Investment Management LLC

Alhambra Investment Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,396 shares of the information services provider’s stock after selling 185 shares during the period. Alphabet accounts for about 1.5% of Alhambra Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding. Alhambra Investment Management LLC’s holdings in Alphabet were worth $2,999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp boosted its position in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Piper Sandler boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. DA Davidson reduced their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Jefferies Financial Group dropped their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $199.75.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,570 shares of company stock worth $32,003,532. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.7%

Alphabet stock opened at $177.35 on Thursday. The company’s fifty day simple moving average is $161.71 and its 200-day simple moving average is $174.51. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market cap of $2.15 trillion, a P/E ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the company posted $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. 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%. Alphabet’s dividend payout ratio is currently 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.