Fairman Group LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fairman Group LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 21.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,380 shares of the information services provider’s stock after selling 370 shares during the period. Fairman Group LLC’s holdings in Alphabet were worth $208,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $38,000. Richardson Capital Management LLC raised its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the period. Finally, Armor Investment Advisors LLC lifted its stake in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $191.18 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The firm has a 50-day moving average of $176.95 and a two-hundred day moving average of $157.15. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOGL shares. Jefferies Financial Group raised their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday. Barclays boosted their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Tigress Financial increased their price objective on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Wells Fargo & Company boosted their target price on shares of Alphabet from $168.00 to $187.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, UBS Group raised their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $195.06.

View Our Latest Analysis on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock worth $21,143,403 over the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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