Aljian Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,004 shares of the information services provider's stock after selling 6,874 shares during the quarter. Alphabet makes up 11.7% of Aljian Capital Management LLC's portfolio, making the stock its 4th biggest position. Aljian Capital Management LLC's holdings in Alphabet were worth $35,338,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after buying an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC boosted its position in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider's stock valued at $45,000 after buying an additional 140 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,565 shares of company stock worth $26,814,740. 11.55% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on GOOGL. BMO Capital Markets reissued an "outperform" rating and issued a $222.00 target price on shares of Alphabet in a report on Tuesday, August 6th. Evercore ISI increased their target price on Alphabet from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, June 11th. Wolfe Research began coverage on Alphabet in a report on Tuesday, July 16th. They issued an "outperform" rating and a $240.00 target price on the stock. Loop Capital reissued a "hold" rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $196.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $203.17.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock traded down $6.02 during mid-day trading on Tuesday, reaching $157.36. The stock had a trading volume of 38,914,480 shares, compared to its average volume of 27,699,473. The business's fifty day moving average is $173.13 and its 200-day moving average is $164.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.44 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet's dividend payout ratio is currently 12.27%.
About Alphabet
(
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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