Founders Financial Securities LLC Sells 153 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Founders Financial Securities LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,538 shares of the information services provider’s stock after selling 153 shares during the period. Founders Financial Securities LLC’s holdings in Alphabet were worth $987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. RWQ Financial Management Services Inc. grew its position in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley boosted its stake in shares of Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $787,000. Finally, Quantum Financial Advisors LLC lifted its stake in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.2 %

GOOGL stock opened at $185.24 on Wednesday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.29 trillion, a P/E ratio of 28.41, a PEG ratio of 1.37 and a beta of 1.05. The business’s 50-day moving average price is $173.38 and its 200-day moving average price is $154.80.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their price target on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.66.

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.