Westhampton Capital LLC Sells 260 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Westhampton Capital LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,972 shares of the information services provider’s stock after selling 260 shares during the period. Alphabet comprises approximately 1.3% of Westhampton Capital LLC’s holdings, making the stock its 22nd largest holding. Westhampton Capital LLC’s holdings in Alphabet were worth $2,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Wealth Group Ltd. boosted its holdings in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC lifted its holdings in shares of Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Alphabet during the fourth quarter valued at $154,716,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,306 shares of company stock valued at $35,782,927 over the last ninety days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $170.68 on Thursday. The company has a market capitalization of $2.07 trillion, a P/E ratio of 19.03, a P/E/G ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business’s 50 day moving average is $165.45 and its two-hundred day moving average is $174.58. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

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 the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the firm earned $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Morgan Stanley cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus reduced their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.17.

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.