Premier Path Wealth Partners LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Premier Path Wealth Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,733 shares of the information services provider’s stock after selling 1,351 shares during the period. Alphabet accounts for 1.1% of Premier Path Wealth Partners LLC’s portfolio, making the stock its 21st biggest position. Premier Path Wealth Partners LLC’s holdings in Alphabet were worth $6,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp grew its stake in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOGL. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald dropped their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $166.64 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 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 price of $164.77 and a 200 day moving average price of $174.72. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 18.58, a P/E/G ratio of 1.06 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the business posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company 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 represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock worth $37,745,632 in the last quarter. 11.64% of the stock is owned by corporate insiders.

Alphabet 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.