Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Elk River Wealth Management LLC

Elk River Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,459 shares of the information services provider’s stock after selling 170 shares during the period. Alphabet makes up about 2.8% of Elk River Wealth Management LLC’s holdings, making the stock its 10th biggest position. Elk River Wealth Management LLC’s holdings in Alphabet were worth $15,071,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOGL. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $3,119,000. Optivise Advisory Services LLC increased its position in Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its stake in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC lifted its holdings in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after buying an additional 258 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL opened at $173.68 on Friday. The stock’s 50 day simple moving average is $160.14 and its 200-day simple moving average is $174.35. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.11 trillion, a PE ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company raised their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Stifel Nicolaus reduced their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

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.