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Outfitter Financial LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% in the first quarter, HoldingsChannel.com reports. The fund owned 18,395 shares of the information services provider’s stock after selling 590 shares during the quarter. Alphabet comprises 2.6% of Outfitter Financial LLC’s portfolio, making the stock its 7th biggest holding. Outfitter Financial LLC’s holdings in Alphabet were worth $2,845,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GOOGL. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the first quarter valued at approximately $39,000. Elite Financial Inc. purchased a new stake in Alphabet during the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Alphabet during the first quarter valued at approximately $49,000. Institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GOOGL. Rosenblatt Securities upped their price objective on Alphabet from $189.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a research report on Friday, June 27th. KeyCorp upped their price objective on Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush upped their price objective on Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Mizuho decreased their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Ten 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. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $211.32.
Read Our Latest Research Report on GOOGL
Alphabet Stock Performance
Shares of GOOGL opened at $193.18 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a fifty day moving average price of $175.77 and a 200-day moving average price of $173.08. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 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 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed 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 of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 8.95%.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 400 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company’s stock, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock worth $43,523,710. Insiders own 11.64% of the company’s stock.
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.
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