Valmark Advisers Inc. Sells 403 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Valmark Advisers Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,704 shares of the information services provider’s stock after selling 403 shares during the period. Valmark Advisers Inc.’s holdings in Alphabet were worth $3,202,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in Alphabet by 3.0% during the first quarter. Oppenheimer & Co. Inc. now owns 468,308 shares of the information services provider’s stock worth $72,419,000 after acquiring an additional 13,770 shares in the last quarter. Vantage Point Financial LLC raised its holdings in Alphabet by 19.7% during the first quarter. Vantage Point Financial LLC now owns 4,337 shares of the information services provider’s stock worth $671,000 after acquiring an additional 715 shares in the last quarter. EQ Wealth Advisors LLC bought a new stake in Alphabet during the first quarter worth about $49,000. Verus Wealth Management LLC raised its holdings in Alphabet by 8.3% during the first quarter. Verus Wealth Management LLC now owns 2,602 shares of the information services provider’s stock worth $402,000 after acquiring an additional 200 shares in the last quarter. Finally, Consolidated Planning Corp raised its holdings in Alphabet by 15.9% during the first quarter. Consolidated Planning Corp now owns 31,568 shares of the information services provider’s stock worth $4,882,000 after acquiring an additional 4,324 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOGL. Mizuho dropped their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Citigroup restated a “buy” rating and issued a $203.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Tuesday. Jefferies Financial Group dropped their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Roth Mkm restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Nine research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.95.

View Our Latest Analysis on GOOGL

Alphabet Trading Up 2.9%

Shares of GOOGL stock opened at $178.53 on Friday. The stock’s fifty day moving average price is $166.45 and its two-hundred day moving average price is $174.52. The company has a market cap of $2.17 trillion, a PE ratio of 19.90, a P/E/G ratio of 1.11 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. 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 earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for 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 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 in the last 90 days. 11.64% of the stock is owned by corporate insiders.

Alphabet Company 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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