Snider Financial Group Sells 489 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Snider Financial Group reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,523 shares of the information services provider’s stock after selling 489 shares during the period. Snider Financial Group’s holdings in Alphabet were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Compass Planning Associates Inc purchased a new stake in Alphabet in the fourth quarter worth $30,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $49,000. Finally, Navigoe LLC purchased a new position in shares of Alphabet in the fourth quarter worth approximately $51,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOGL shares. JPMorgan Chase & Co. reduced their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock worth $32,036,638 over the last three months. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $173.68 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm’s 50-day simple moving average is $160.14 and its 200 day simple moving average is $174.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.11 trillion, a P/E ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the company earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

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.