Lbp Am Sa Has $140.22 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lbp Am Sa lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 906,722 shares of the information services provider’s stock after selling 78,492 shares during the period. Alphabet accounts for about 2.2% of Lbp Am Sa’s holdings, making the stock its 8th largest holding. Lbp Am Sa’s holdings in Alphabet were worth $140,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Burt Wealth Advisors grew its position in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Perritt Capital Management Inc grew its position in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares in the last quarter. Nia Impact Advisors LLC grew its position in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after acquiring an additional 59 shares in the last quarter. Hanlon Investment Management Inc. grew its position in Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth grew its position in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $182.00 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year 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 firm has a market cap of $2.21 trillion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.27 and a beta of 1.00. The firm’s fifty day moving average is $171.04 and its two-hundred day moving average is $173.13.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) 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 business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,943 shares of company stock worth $31,223,348. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. Wells Fargo & Company lifted their price target on Alphabet from $175.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Truist Financial reiterated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Stifel Nicolaus dropped their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets boosted their price target on Alphabet from $200.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.82.

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.