Bay Capital Advisors LLC Sells 300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bay Capital Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,100 shares of the information services provider’s stock after selling 300 shares during the quarter. Alphabet comprises 0.9% of Bay Capital Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Bay Capital Advisors LLC’s holdings in Alphabet were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter worth $49,000. EQ Wealth Advisors LLC bought a new stake in Alphabet during the 1st quarter worth $49,000. Navigoe LLC acquired a new position in Alphabet in the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. bought a new position in Alphabet in the fourth quarter valued at about $53,000. Finally, Campbell Capital Management Inc. bought a new position in Alphabet in the fourth quarter valued at about $57,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Susquehanna cut their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. DA Davidson decreased their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Tigress Financial raised their price objective on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.17 trillion, a PE ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The firm has a 50-day moving average of $168.70 and a 200-day moving average of $173.97.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. As a group, equities research analysts expect 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. Stockholders of record on Monday, June 9th were paid 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 was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Company insiders own 11.64% of the company’s stock.

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.