Granite Bay Wealth Management LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Granite Bay Wealth Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 98.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,683 shares of the information services provider’s stock after selling 92,867 shares during the period. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. M. Kraus & Co grew its holdings in Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the period. Wynn Capital LLC lifted its position in Alphabet by 3.9% during the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after acquiring an additional 67 shares during the last quarter. Aire Advisors LLC lifted its position in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after acquiring an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its position in Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after acquiring an additional 68 shares during the last quarter. Finally, Fiduciary Planning LLC lifted its position in Alphabet by 0.7% during the first quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock worth $1,391,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 in the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.0 %

GOOGL opened at $188.98 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $191.36. The firm has a market capitalization of $2.34 trillion, a PE ratio of 28.98, a P/E/G ratio of 1.43 and a beta of 1.05. The company’s 50-day moving average is $176.41 and its 200 day moving average is $156.91.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Mizuho lifted their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Wedbush lifted their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.34.

View Our Latest Report on GOOGL

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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