McClarren Financial Advisors Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 63.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,359 shares of the information services provider’s stock after selling 2,359 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Alphabet were worth $205,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. RWQ Financial Management Services Inc. boosted its stake in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after acquiring an additional 76,410 shares in the last quarter. Robbins Farley boosted its position in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the last quarter. Nebula Research & Development LLC bought a new position in Alphabet in the fourth quarter valued at approximately $787,000. Finally, CKW Financial Group increased its position in shares of Alphabet by 5.8% during the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 760 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,988 shares of company stock worth $17,752,805. Corporate insiders own 11.55% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $183.92 on Wednesday. The business has a fifty day moving average price of $178.31 and a two-hundred day moving average price of $158.53. The stock has a market capitalization of $2.27 trillion, a PE ratio of 28.21, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a fifty-two week low of $118.22 and a fifty-two week high of $191.75.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent analyst reports. Bank of America reissued a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Tuesday, June 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Loop Capital restated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Wedbush raised their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.58.
Check Out Our Latest Research Report on Alphabet
Alphabet Profile
(Free Report)
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.
Further Reading
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