IPG Investment Advisors LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

IPG Investment Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the first quarter, Holdings Channel.com reports. The firm owned 36,614 shares of the information services provider’s stock after selling 2,500 shares during the quarter. Alphabet accounts for approximately 1.3% of IPG Investment Advisors LLC’s holdings, making the stock its 20th largest position. IPG Investment Advisors LLC’s holdings in Alphabet were worth $5,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Nia Impact Advisors LLC increased its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after buying an additional 59 shares in the last quarter. Hanlon Investment Management Inc. boosted its stake in shares of 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 during the period. Enzi Wealth boosted its stake in shares of 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 during the period. Whipplewood Advisors LLC grew its position in shares of Alphabet by 1.2% during the first 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 in the last quarter. Finally, Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 in the last ninety days. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Truist Financial reissued a “buy” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. KeyCorp boosted their target price on shares of Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Loop Capital restated a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. UBS Group lifted their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Westpark Capital boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.53.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $201.42 on Monday. The firm’s 50 day simple moving average is $180.89 and its 200-day simple moving average is $172.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The firm has a market cap of $2.44 trillion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.