Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,055 shares of the information services provider’s stock after selling 155 shares during the quarter. Alphabet comprises 4.5% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $4,234,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GOOGL. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $15,441,917,000. FMR LLC increased its stake in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake 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 purchasing an additional 6,010,548 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,289 shares of company stock worth $36,724,534. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOGL shares. Wolfe Research raised their price objective on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Rosenblatt Securities raised their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial raised their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer raised their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. Finally, KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.74.

Alphabet Trading Down 2.0 %

Alphabet stock traded down $3.37 during midday trading on Tuesday, reaching $162.78. The stock had a trading volume of 33,503,634 shares, compared to its average volume of 30,866,035. Alphabet Inc. has a twelve month low of $103.71 and a twelve month high of $174.71. The stock has a market capitalization of $2.02 trillion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The stock’s 50-day simple moving average is $148.80 and its 200 day simple moving average is $141.79.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet 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.