Financial Management Professionals Inc. Sells 393 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Management Professionals Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% in the first quarter, HoldingsChannel.com reports. The fund owned 4,743 shares of the information services provider’s stock after selling 393 shares during the quarter. Financial Management Professionals Inc.’s holdings in Alphabet were worth $716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at $15,441,917,000. Vanguard Group Inc. lifted its holdings in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Alphabet by 39,754.9% in the fourth 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 acquiring an additional 6,010,548 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Alphabet by 4,894.1% during 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 acquiring an additional 5,336,359 shares during the last quarter. Finally, Lone Pine Capital LLC acquired a new stake in shares of Alphabet during the third quarter worth $407,367,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Truist Financial upped their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. KeyCorp lifted their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. UBS Group increased their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Stock Performance

NASDAQ GOOGL opened at $182.99 on Tuesday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The stock has a market cap of $2.26 trillion, a PE ratio of 28.07, a P/E/G ratio of 1.37 and a beta of 1.05. The firm has a 50-day moving average of $172.85 and a 200-day moving average of $154.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 filing with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,344 shares of company stock valued at $23,920,676. 11.55% of the stock is owned by company insiders.

About Alphabet

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.