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Mascoma Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,094 shares of the information services provider’s stock after selling 830 shares during the period. Mascoma Wealth Management LLC’s holdings in Alphabet were worth $633,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GOOGL. 3Chopt Investment Partners LLC acquired a new position in Alphabet in the first quarter valued at about $2,564,000. Hartmann Taylor Wealth Management LLC bought a new position in Alphabet in the first quarter valued at approximately $399,000. Kessler Investment Group LLC grew its stake in Alphabet by 5.1% in the first quarter. Kessler Investment Group LLC now owns 63,455 shares of the information services provider’s stock valued at $9,813,000 after purchasing an additional 3,083 shares in the last quarter. Sims Investment Management LLC bought a new position in Alphabet in the first quarter valued at approximately $303,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Alphabet by 30.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,829,172 shares of the information services provider’s stock valued at $746,783,000 after purchasing an additional 1,123,990 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 in the last ninety days. 11.64% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several brokerages have recently commented on GOOGL. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 target price for the company in a research note on Friday, June 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Susquehanna lowered their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.95.
Check Out Our Latest Stock Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $179.08 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock’s 50 day moving average is $168.36 and its 200-day moving average is $174.08. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the business earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 9.36%.
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.
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