PFG Investments LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

PFG Investments LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.6% in the 1st quarter, Holdings Channel reports. The fund owned 74,412 shares of the information services provider’s stock after selling 6,164 shares during the quarter. Alphabet accounts for approximately 0.7% of PFG Investments LLC’s portfolio, making the stock its 17th biggest position. PFG Investments LLC’s holdings in Alphabet were worth $11,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Alphabet by 9.8% during 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. Norges Bank purchased a new stake in Alphabet during the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors raised its stake in Alphabet by 16.2% during 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. Finally, Northern Trust Corp raised its stake in Alphabet by 17.0% during 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. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,070 shares of company stock valued at $37,745,632. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $165.19 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a fifty day moving average of $164.89 and a two-hundred day moving average of $174.66. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 34.54% and a net margin of 30.86%. During the same quarter last year, the business posted $1.89 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given 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 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GOOGL shares. UBS Group set a $195.00 target price on Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets reissued an “outperform” rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Roth Mkm reissued a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Check Out Our Latest Stock Analysis on Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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