Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the first quarter, Holdings Channel.com reports. The fund owned 36,866 shares of the information services provider’s stock after selling 422 shares during the quarter. Proficio Capital Partners LLC’s holdings in Alphabet were worth $5,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GOOGL. Perritt Capital Management Inc boosted its stake in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after buying an additional 58 shares during the period. Nia Impact Advisors LLC raised its stake in 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 acquiring an additional 59 shares during the last quarter. Hanlon Investment Management Inc. lifted its position in Alphabet by 1.7% during the 4th 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 during the period. Enzi Wealth lifted its position in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the period. Finally, Whipplewood Advisors LLC grew 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 valued at $817,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $192.58 on Tuesday. The stock has a fifty day moving average price of $176.29 and a 200 day moving average price of $172.79. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 20.51, a PEG ratio of 1.31 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research note on Friday, June 27th. BNP Paribas Exane restated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. KeyCorp lifted their target price on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Needham & Company LLC raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Ten 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.32.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’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 value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,409 shares of company stock worth $43,523,710. Insiders own 11.55% of the company’s stock.

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.