Alphabet Inc. (NASDAQ:GOOGL) is Fishman Jay A Ltd. MI’s 3rd Largest Position

Fishman Jay A Ltd. MI lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 394,238 shares of the information services provider’s stock after selling 34,065 shares during the period. Alphabet makes up approximately 6.7% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 3rd largest position. Fishman Jay A Ltd. MI’s holdings in Alphabet were worth $60,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet during the 4th quarter worth approximately $30,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $49,000. Navigoe LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.0%

GOOGL stock opened at $166.77 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market capitalization of $2.02 trillion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. 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 company has a fifty day moving average of $165.10 and a 200-day moving average of $174.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company 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 earned $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In related news, 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 in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 228,070 shares of company stock worth $37,745,632. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Susquehanna reduced their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Piper Sandler increased their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Mizuho dropped their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Ten equities research 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 stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.83.

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.