Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,100 shares of the information services provider’s stock after selling 8,345 shares during the period. Maxi Investments CY Ltd’s holdings in Alphabet were worth $1,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 274,219 shares of company stock worth $49,674,273. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2%

Shares of NASDAQ GOOGL opened at $201.00 on Tuesday. The stock has a market cap of $2.43 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.36 and a beta of 1.01. The firm has a 50 day moving average price of $181.53 and a 200 day moving average price of $172.81. 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 52-week low of $140.53 and a 52-week high of $207.05.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given 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 presently 8.95%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Piper Sandler upped their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Susquehanna upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, Royal Bank Of Canada increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

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.