Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Perissos Private Wealth Management LLC

Perissos Private Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 45.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the information services provider’s stock after selling 5,943 shares during the period. Perissos Private Wealth Management LLC’s holdings in Alphabet were worth $1,082,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp boosted its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors boosted its stake in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.2%

NASDAQ GOOGL opened at $179.08 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month 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. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The firm’s 50 day moving average price is $168.70 and its two-hundred day moving average price is $173.87.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Finally, JMP Securities raised Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

About Alphabet

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.