Kraft Davis & Associates LLC Sells 2,929 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kraft Davis & Associates LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 24.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,914 shares of the information services provider’s stock after selling 2,929 shares during the period. Kraft Davis & Associates LLC’s holdings in Alphabet were worth $1,345,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% during the first 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. Finally, Richardson Capital Management LLC increased its holdings in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.5 %

NASDAQ:GOOGL opened at $170.76 on Friday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 26.19, a P/E/G ratio of 1.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50-day simple moving average is $178.59 and its 200-day simple moving average is $161.14.

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, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the firm posted $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOGL. Susquehanna upped their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Morgan Stanley upped their price target on shares of Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital reiterated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, Argus upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.74.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,126 shares of company stock valued at $17,617,549. 11.55% of the stock is owned by 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.