Goodman Advisory Group LLC Sells 43,919 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Goodman Advisory Group LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 94.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,713 shares of the information services provider’s stock after selling 43,919 shares during the quarter. Goodman Advisory Group LLC’s holdings in Alphabet were worth $420,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $49,000. EQ Wealth Advisors LLC acquired a new position in shares of Alphabet during the first quarter worth about $49,000. Navigoe LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $53,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $57,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’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 transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $179.08 on Friday. The firm has a market cap of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. 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 Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business’s 50 day moving average is $168.70 and its 200-day moving average is $173.97.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Susquehanna reduced their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Citigroup reaffirmed a “buy” rating and set a $203.00 price objective (up from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. KeyCorp upped their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. Finally, Westpark Capital reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.95.

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.