Lattice Capital Management LLC Sells 10,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lattice Capital Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,800 shares of the information services provider’s stock after selling 10,000 shares during the period. Alphabet accounts for about 4.9% of Lattice Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Lattice Capital Management LLC’s holdings in Alphabet were worth $4,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Perritt Capital Management Inc lifted its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares during the period. Nia Impact Advisors LLC grew its stake in shares of Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. increased its position in shares of Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth lifted its stake in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after purchasing an additional 62 shares during the period. Finally, Whipplewood Advisors LLC lifted its stake in shares of Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock worth $817,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Westpark Capital reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Bank of America boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. JMP Securities raised Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Truist Financial reiterated a “buy” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group reduced their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Ten investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.86.

Alphabet Price Performance

NASDAQ:GOOGL opened at $182.97 on Thursday. The firm has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50 day simple moving average of $171.67 and a 200-day simple moving average of $173.20. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the company earned $1.89 earnings per share. Equities analysts forecast 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. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.46%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 400 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,343 shares of company stock valued at $31,296,140 in the last ninety days. 11.64% of the stock is owned by company 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.