Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Keb Asset Management LLC

Keb Asset Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,876 shares of the information services provider’s stock after selling 180 shares during the period. Keb Asset Management LLC’s holdings in Alphabet were worth $445,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,219 shares of company stock worth $49,674,273 over the last three months. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Wedbush lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Westpark Capital lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Bank of America lifted their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned 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 a consensus price target of $211.53.

Alphabet Stock Performance

Shares of GOOGL opened at $201.96 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm’s 50 day moving average is $182.95 and its 200-day moving average is $173.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.51, a P/E/G ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

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.