Intrua Financial LLC Trims Stock Position in Alphabet Inc. $GOOGL

Intrua Financial LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,776 shares of the information services provider’s stock after selling 1,575 shares during the quarter. Intrua Financial LLC’s holdings in Alphabet were worth $3,099,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the fourth quarter worth approximately $32,000. EMC Capital Management acquired a new position in shares of Alphabet in the 4th quarter valued at $33,000. PMV Capital Advisers LLC purchased a new stake in Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet in the 4th quarter valued at $38,000. Finally, Bard Associates Inc. acquired a new stake in Alphabet during the 4th quarter worth $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL traded up $5.15 during trading on Tuesday, reaching $371.61. The company’s stock had a trading volume of 4,065,557 shares, compared to its average volume of 32,626,334. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company’s fifty day moving average price is $371.05 and its 200-day moving average price is $334.60. Alphabet Inc. has a 52-week low of $172.77 and a 52-week high of $408.61. The company has a market capitalization of $4.50 trillion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insider Transactions at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,465 shares of company stock valued at $8,020,511 in the last three months. Insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Rosenblatt Securities restated a “neutral” rating and issued a $393.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, May 20th. Phillip Securities boosted their price target on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. President Capital upped their price objective on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Loop Capital lifted their target price on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $413.54.

View Our Latest Stock Report on Alphabet

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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