LongView Wealth Management trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.0% during the first quarter, HoldingsChannel reports. The fund owned 4,796 shares of the information services provider’s stock after selling 307 shares during the quarter. LongView Wealth Management’s holdings in Alphabet were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. PayPay Securities Corp boosted 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 valued at $46,000 after acquiring an additional 65 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $49,000. Navigoe LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Down 3.9%
NASDAQ GOOGL opened at $166.64 on Monday. The business has a fifty day moving average price of $164.77 and a two-hundred day moving average price of $174.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a PEG ratio of 1.06 and a beta of 1.01.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost 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 dividend yield of 0.50%. Alphabet’s dividend payout ratio is presently 9.36%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,070 shares of company stock valued at $37,745,632. 11.55% of the stock is currently owned by company insiders.
Analyst Ratings Changes
GOOGL has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Susquehanna decreased their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. KeyCorp raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.
View Our Latest Report on Alphabet
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.
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