Probity Advisors Inc. Sells 190 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Probity Advisors Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,595 shares of the information services provider’s stock after selling 190 shares during the quarter. Probity Advisors Inc.’s holdings in Alphabet were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Eagle Capital Management LLC increased its position in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC grew its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE increased 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 valued at $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC raised its stake 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 purchasing an additional 13,564 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Susquehanna lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Finally, Wedbush upped their price objective on Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.53.

Alphabet Trading Up 2.5%

GOOGL stock opened at $201.42 on Monday. The company has a market capitalization 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. 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 company’s 50 day moving average price is $180.89 and its two-hundred day moving average price is $172.80.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 $489,572,657.16. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,219 shares of company stock worth $49,474,273. 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.