Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Versor Investments LP

Versor Investments LP cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 62.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,594 shares of the information services provider’s stock after selling 7,489 shares during the quarter. Versor Investments LP’s holdings in Alphabet were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 179,367 shares of company stock valued at $30,016,931 in the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOGL shares. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. UBS Group boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm reissued a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Up 1.8 %

GOOGL stock opened at $157.46 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. The company’s 50 day simple moving average is $167.46 and its 200-day simple moving average is $164.87.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.