Navalign LLC Has $2.48 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Navalign LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,065 shares of the information services provider’s stock after selling 370 shares during the quarter. Alphabet accounts for approximately 0.7% of Navalign LLC’s holdings, making the stock its 21st biggest holding. Navalign LLC’s holdings in Alphabet were worth $2,484,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Group Ltd. lifted its stake in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares during the period. Eagle Capital Management LLC increased its holdings in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its position 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 worth $2,826,000 after buying an additional 506 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in Alphabet by 3.6% in the fourth 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. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director directly owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,443 shares of company stock worth $36,298,548. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.8%

NASDAQ:GOOGL opened at $181.56 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business’s fifty day moving average price is $170.66 and its 200 day moving average price is $173.07. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. KeyCorp lifted their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. DA Davidson dropped their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Roth Capital reiterated a “buy” rating and set a $205.00 price target (up previously from $180.00) on shares of Alphabet in a research note on Tuesday, July 8th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $199.61.

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.