Freedom Day Solutions LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Freedom Day Solutions LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,267 shares of the information services provider’s stock after selling 1,129 shares during the period. Alphabet makes up approximately 0.9% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 28th biggest holding. Freedom Day Solutions LLC’s holdings in Alphabet were worth $2,979,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOOGL. von Borstel & Associates Inc. purchased a new position in Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at $39,000. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the fourth quarter valued at about $49,000. Navigoe LLC purchased a new stake in Alphabet in the fourth quarter worth about $51,000. Finally, Elite Financial Inc. purchased a new position in Alphabet during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $183.58 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a 50 day moving average of $172.26 and a two-hundred day moving average of $173.15. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.23 trillion, a PE ratio of 20.47, a P/E/G ratio of 1.28 and a beta of 1.00.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Cantor Fitzgerald lifted their price objective on shares of Alphabet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JMP Securities upgraded Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Finally, KeyCorp upped their target price on Alphabet from $195.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.41.

Check Out Our Latest Research Report on Alphabet

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock worth $37,288,490 over the last 90 days. 11.64% of the stock is owned by insiders.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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