Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by J.Safra Asset Management Corp

J.Safra Asset Management Corp lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,129 shares of the information services provider’s stock after selling 1,138 shares during the period. J.Safra Asset Management Corp’s holdings in Alphabet were worth $1,566,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC lifted its position in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. lifted its position in 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 acquiring an additional 2,790 shares during the last quarter. Falcon Wealth Planning lifted its position in Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider’s stock worth $1,531,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Premier Fund Managers Ltd lifted its position in 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 acquiring an additional 14,262 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

Alphabet stock opened at $179.08 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm’s fifty day moving average is $168.70 and its 200 day moving average is $173.77. The company has a market capitalization of $2.17 trillion, a PE ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. 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 prior year, the company posted $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Mizuho cut their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, DA Davidson cut their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.95.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last quarter. 11.55% of the stock is currently owned by corporate 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.