Dana Investment Advisors Inc. Sells 21,568 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Dana Investment Advisors Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,859 shares of the information services provider’s stock after selling 21,568 shares during the quarter. Alphabet accounts for about 2.4% of Dana Investment Advisors Inc.’s portfolio, making the stock its 4th biggest position. Dana Investment Advisors Inc.’s holdings in Alphabet were worth $70,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in 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 buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOGL shares. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Bank of America boosted their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $163.24 on Friday. 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 Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day moving average price of $161.37 and a 200-day moving average price of $167.63.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 11.48%.

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.