Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,793 shares of the information services provider’s stock after selling 85 shares during the period. Alphabet accounts for approximately 6.6% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 4th largest position. Ables Iannone Moore & Associates Inc.’s holdings in Alphabet were worth $9,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $39,000. PayPay Securities Corp boosted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new position in Alphabet in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.2%

Shares of GOOGL opened at $169.73 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 21.08, a PEG ratio of 1.34 and a beta of 1.01. The firm’s 50-day moving average is $159.10 and its two-hundred day moving average is $174.59.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Wells Fargo & Company upped their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. The trade was a 8.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock worth $26,772,774 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.