Emerald Mutual Fund Advisers Trust Sells 184 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Emerald Mutual Fund Advisers Trust cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,557 shares of the information services provider’s stock after selling 184 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Alphabet were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter valued at $30,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth $41,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $29,762,606 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of GOOGL opened at $163.59 on Friday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04. The firm has a 50 day moving average price of $164.72 and a 200-day moving average price of $165.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Monday, September 16th. Morgan Stanley cut their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Cantor Fitzgerald began coverage on shares of Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price for the company. Truist Financial restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Finally, TD Securities lifted their price objective on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

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.