Alphabet Inc. $GOOGL Stake Lowered by Tikvah Management LLC

Tikvah Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the first quarter, HoldingsChannel reports. The fund owned 213,150 shares of the information services provider’s stock after selling 7,450 shares during the period. Alphabet accounts for about 11.6% of Tikvah Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Tikvah Management LLC’s holdings in Alphabet were worth $32,962,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. grew its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its stake in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the last quarter. Rockbridge Capital Management LLC purchased a new position in Alphabet during the 4th quarter worth approximately $3,119,000. Cypress Capital LLC grew its stake in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Falcon Wealth Planning grew its stake in Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider’s stock worth $1,531,000 after buying an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Citigroup raised their price target on Alphabet from $203.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Truist Financial reissued a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Finally, Barclays upped their price target on Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,719 shares of company stock valued at $47,223,172. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 3.2%

GOOGL opened at $206.09 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $186.81 and a 200-day simple moving average of $173.37. The stock has a market capitalization of $2.49 trillion, a P/E ratio of 21.95, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $208.54.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Alphabet Company Profile

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.