Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,079 shares of the information services provider’s stock after selling 6,385 shares during the quarter. Alphabet accounts for about 4.9% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 10th biggest holding. Hoertkorn Richard Charles’ holdings in Alphabet were worth $10,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter worth $30,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter valued at about $49,000. EQ Wealth Advisors LLC bought a new position in Alphabet during the first quarter worth about $49,000. Navigoe LLC bought a new position in Alphabet during the fourth quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in Alphabet during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $179.08 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a fifty day moving average of $168.36 and a 200-day moving average of $174.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the firm posted $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Bank of America lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a report on Wednesday, June 25th. UBS Group set a $195.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, Sanford C. Bernstein upped their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.95.

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.