Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Fagan Associates Inc.

Fagan Associates Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 251,350 shares of the information services provider’s stock after selling 4,235 shares during the period. Alphabet makes up 6.5% of Fagan Associates Inc.’s holdings, making the stock its 2nd biggest holding. Fagan Associates Inc.’s holdings in Alphabet were worth $38,869,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% during 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 last quarter. Brighton Jones LLC lifted 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 during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after buying an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its position in shares of Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after buying an additional 13,564 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.3%

NASDAQ:GOOGL opened at $192.58 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.34 trillion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The business’s 50-day simple moving average is $176.29 and its 200-day simple moving average is $172.79.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Tigress Financial boosted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Wedbush boosted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Bank of America increased their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $211.32.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,409 shares of company stock worth $43,523,710. Corporate insiders own 11.55% of the company’s stock.

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.