Exchange Capital Management Inc. Sells 1,413 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Exchange Capital Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,080 shares of the information services provider’s stock after selling 1,413 shares during the period. Alphabet comprises about 3.2% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Exchange Capital Management Inc.’s holdings in Alphabet were worth $17,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Apexium Financial LP grew its position in Alphabet by 77.9% in the 4th quarter. Apexium Financial LP now owns 47,856 shares of the information services provider’s stock worth $6,685,000 after purchasing an additional 20,957 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Alphabet by 7.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 535,446 shares of the information services provider’s stock valued at $74,796,000 after acquiring an additional 37,986 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its position in shares of Alphabet by 0.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,431,757 shares of the information services provider’s stock valued at $190,659,000 after acquiring an additional 4,596 shares in the last quarter. Savvy Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $323,000. Finally, Guardian Capital LP boosted its position in shares of Alphabet by 3.4% during the 4th quarter. Guardian Capital LP now owns 90,704 shares of the information services provider’s stock valued at $12,670,000 after acquiring an additional 3,000 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler reiterated an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Redburn Atlantic lifted their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wedbush boosted their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,935 shares of company stock valued at $31,178,987. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.5 %

GOOGL opened at $177.85 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The firm has a 50 day simple moving average of $158.79 and a 200 day simple moving average of $145.98. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, June 10th.

Alphabet Company 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.