Geneva Partners LLC Sells 1,211 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Geneva Partners LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,196 shares of the information services provider’s stock after selling 1,211 shares during the period. Alphabet makes up 3.3% of Geneva Partners LLC’s holdings, making the stock its 10th biggest position. Geneva Partners LLC’s holdings in Alphabet were worth $7,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC purchased a new position in Alphabet during the first quarter worth about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Richardson Capital Management LLC raised its stake in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares during the period. Finally, Armor Investment Advisors LLC raised its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.0 %

Shares of GOOGL stock opened at $188.98 on Wednesday. The firm has a market cap of $2.34 trillion, a P/E ratio of 28.98, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $191.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50-day simple moving average is $176.41 and its 200-day simple moving average is $156.91.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm posted $1.17 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock worth $21,143,403 in the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOOGL shares. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, June 28th. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Mizuho boosted their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Sandler restated an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Finally, Barclays lifted their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.34.

Get Our Latest Analysis on GOOGL

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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