America First Investment Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

America First Investment Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,599 shares of the information services provider’s stock after selling 46,022 shares during the quarter. Alphabet comprises about 6.3% of America First Investment Advisors LLC’s investment portfolio, making the stock its 4th largest holding. America First Investment Advisors LLC’s holdings in Alphabet were worth $25,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Capital Research Global Investors lifted its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Alphabet by 39,754.9% in the 4th 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. PineStone Asset Management Inc. lifted its holdings in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Alphabet by 91.0% in the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.3 %

Shares of Alphabet stock opened at $162.29 on Wednesday. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $163.80 and a two-hundred day moving average price of $166.17. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.

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

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. Loop Capital restated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Piper Sandler cut their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Wolfe Research assumed coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,867 shares of company stock valued at $29,878,106. 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.