Calton & Associates Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Calton & Associates Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 77.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,590 shares of the information services provider’s stock after selling 5,477 shares during the period. Calton & Associates Inc.’s holdings in Alphabet were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. W Advisors LLC boosted its stake in shares of Alphabet by 5.3% during the 3rd quarter. W Advisors LLC now owns 4,440 shares of the information services provider’s stock valued at $581,000 after purchasing an additional 225 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Alphabet by 8.8% in the third quarter. Valley National Advisers Inc. now owns 17,741 shares of the information services provider’s stock worth $2,322,000 after buying an additional 1,440 shares during the period. Truvestments Capital LLC boosted its position in Alphabet by 10.1% during the 3rd quarter. Truvestments Capital LLC now owns 8,173 shares of the information services provider’s stock valued at $1,070,000 after acquiring an additional 751 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Alphabet by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 2,720,789 shares of the information services provider’s stock worth $356,042,000 after acquiring an additional 10,237 shares during the period. Finally, Towercrest Capital Management raised its position in shares of Alphabet by 1.8% in the 3rd quarter. Towercrest Capital Management now owns 7,492 shares of the information services provider’s stock worth $980,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction 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 directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 143,026 shares of company stock valued at $24,026,243 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.8 %

Shares of GOOGL stock opened at $182.15 on Monday. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.05. The firm has a fifty day moving average price of $172.85 and a 200-day moving average price of $154.44. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $1.17 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Citigroup boosted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Roth Mkm raised their target price on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

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.