First Long Island Investors LLC Sells 25,262 Shares of Alphabet Inc. $GOOGL

First Long Island Investors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.3% in the first quarter, HoldingsChannel.com reports. The firm owned 197,732 shares of the information services provider’s stock after selling 25,262 shares during the period. Alphabet comprises 2.5% of First Long Island Investors LLC’s investment portfolio, making the stock its 12th largest holding. First Long Island Investors LLC’s holdings in Alphabet were worth $30,577,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alphabet Price Performance

Alphabet stock opened at $240.37 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.91 trillion, a P/E ratio of 25.60, a P/E/G ratio of 1.61 and a beta of 1.01. The business’s fifty day moving average is $200.66 and its two-hundred day moving average is $177.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $242.25.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for 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%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction 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 transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 in the last three months. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Sanford C. Bernstein upped their target price on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Loop Capital reiterated a “hold” rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Canaccord Genuity Group upped their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Cantor Fitzgerald upped their price target on Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.44.

About Alphabet

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.