Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,635 shares of the information services provider’s stock after selling 120 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOGL. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at about $24,383,677,000. FMR LLC increased its holdings in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Tigress Financial raised their price target on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

Check Out Our Latest Research Report on Alphabet

Alphabet Stock Performance

Shares of GOOGL stock opened at $166.64 on Friday. The stock has a fifty day moving average price of $164.77 and a 200 day moving average price of $174.71. The stock has a market cap of $2.02 trillion, a PE ratio of 18.58, a P/E/G ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the firm posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, 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 transaction of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,070 shares of company stock valued at $37,745,632. 11.64% of the stock is owned by insiders.

About Alphabet

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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