Geneva Capital Management LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Geneva Capital Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,920 shares of the information services provider’s stock after selling 212 shares during the quarter. Geneva Capital Management LLC’s holdings in Alphabet were worth $1,843,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Alphabet by 8.8% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 140,156 shares of the information services provider’s stock valued at $21,674,000 after purchasing an additional 11,278 shares in the last quarter. Tiller Private Wealth Inc. lifted its holdings in Alphabet by 20.7% during the first quarter. Tiller Private Wealth Inc. now owns 3,978 shares of the information services provider’s stock worth $615,000 after buying an additional 683 shares during the period. MWA Asset Management boosted its position in Alphabet by 11.7% during the 1st quarter. MWA Asset Management now owns 2,481 shares of the information services provider’s stock valued at $384,000 after acquiring an additional 260 shares in the last quarter. Silver Coast Investments LLC boosted its position in Alphabet by 15.3% during the 1st quarter. Silver Coast Investments LLC now owns 4,262 shares of the information services provider’s stock valued at $659,000 after acquiring an additional 564 shares in the last quarter. Finally, Haverford Financial Services Inc. increased its holdings in shares of Alphabet by 32.5% in the 1st quarter. Haverford Financial Services Inc. now owns 59,992 shares of the information services provider’s stock valued at $9,277,000 after acquiring an additional 14,708 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 2.5%

Shares of GOOGL opened at $201.42 on Monday. The firm has a market cap of $2.44 trillion, a P/E ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock’s 50 day moving average is $180.89 and its two-hundred day moving average is $172.80. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

The business 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. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares of the company’s stock, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock worth $49,474,273 in the last ninety days. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Needham & Company LLC increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Piper Sandler raised their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Rosenblatt Securities boosted their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Roth Capital increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.53.

Alphabet Company 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.