Eads & Heald Wealth Management Sells 332 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eads & Heald Wealth Management decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the 1st quarter, HoldingsChannel reports. The fund owned 11,993 shares of the information services provider’s stock after selling 332 shares during the quarter. Eads & Heald Wealth Management’s holdings in Alphabet were worth $1,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its position in shares of Alphabet by 0.6% in the first quarter. Albion Financial Group UT now owns 264,213 shares of the information services provider’s stock valued at $40,858,000 after purchasing an additional 1,691 shares during the period. Amalgamated Bank grew its holdings in shares of Alphabet by 1.8% during the 1st quarter. Amalgamated Bank now owns 1,281,303 shares of the information services provider’s stock valued at $198,141,000 after purchasing an additional 22,700 shares during the last quarter. Buttonwood Financial Advisors Inc. grew its position in Alphabet by 5.9% during the 1st quarter. Buttonwood Financial Advisors Inc. now owns 67,903 shares of the information services provider’s stock worth $10,501,000 after acquiring an additional 3,771 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in Alphabet by 0.8% during the 1st quarter. Waterfront Wealth Inc. now owns 30,289 shares of the information services provider’s stock worth $4,684,000 after acquiring an additional 245 shares during the last quarter. Finally, Mmbg Investment Advisors CO. boosted its holdings in Alphabet by 2.3% in the first quarter. Mmbg Investment Advisors CO. now owns 322,778 shares of the information services provider’s stock valued at $49,914,000 after acquiring an additional 7,256 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Wednesday, June 25th. Jefferies Financial Group decreased 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. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $179.08 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $168.70 and a 200 day moving average of $173.87. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market cap of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping 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 analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is owned by corporate insiders.

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.