Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,787 shares of the information services provider’s stock after selling 267 shares during the quarter. Alphabet makes up approximately 1.6% of Bouvel Investment Partners LLC’s portfolio, making the stock its 22nd biggest position. Bouvel Investment Partners LLC’s holdings in Alphabet were worth $3,945,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 in the last quarter. 11.64% of the stock is currently owned by insiders.

Alphabet Trading Up 1.2%

NASDAQ GOOGL opened at $176.77 on Tuesday. The company has a market cap of $2.15 trillion, a PE ratio of 21.96, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick 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 50 day moving average of $163.53 and a 200-day moving average of $174.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Stifel Nicolaus cut their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. BMO Capital Markets restated an “outperform” rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Cantor Fitzgerald cut their price target on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Company 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.