Sicart Associates LLC Has $8.48 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Sicart Associates LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 54,833 shares of the information services provider’s stock after selling 1,165 shares during the quarter. Alphabet accounts for approximately 2.9% of Sicart Associates LLC’s portfolio, making the stock its 11th largest position. Sicart Associates LLC’s holdings in Alphabet were worth $8,479,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet in the fourth quarter worth $30,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the fourth quarter worth $49,000. EQ Wealth Advisors LLC acquired a new stake in Alphabet in the first quarter worth $49,000. Navigoe LLC acquired a new stake in Alphabet in the fourth quarter worth $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet in the fourth quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.08 on Friday. The stock has a market cap 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 debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a fifty day moving average price of $168.36 and a two-hundred day moving average price of $174.08. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating and issued a $203.00 target price (up from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Roth Mkm reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Ten equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 9,000 shares of the firm’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 $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is owned by insiders.

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.