Navalign LLC Sells 368 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Navalign LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,690 shares of the information services provider’s stock after selling 368 shares during the period. Alphabet makes up about 0.8% of Navalign LLC’s portfolio, making the stock its 21st biggest holding. Navalign LLC’s holdings in Alphabet were worth $2,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $15,441,917,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $601,545,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,374 shares of company stock worth $24,548,073 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Rosenblatt Securities raised their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Mizuho raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC raised their price objective on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Oppenheimer raised their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Piper Sandler restated an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Stock Performance

Shares of GOOGL stock opened at $184.03 on Wednesday. The stock has a market cap of $2.27 trillion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The business has a 50-day simple moving average of $171.13 and a 200-day simple moving average of $153.36. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $184.29.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

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.