DSG Capital Advisors LLC Sells 304 Shares of Alphabet Inc. (NASDAQ:GOOGL)

DSG Capital Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,883 shares of the information services provider’s stock after selling 304 shares during the quarter. Alphabet comprises about 3.0% of DSG Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. DSG Capital Advisors LLC’s holdings in Alphabet were worth $14,982,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rockbridge Capital Management LLC acquired a new position in Alphabet in the fourth quarter worth approximately $3,119,000. Optivise Advisory Services LLC grew 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 purchasing an additional 403 shares in the last quarter. Community Bank N.A. grew 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 purchasing an additional 2,790 shares in the last quarter. Falcon Wealth Planning grew 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 purchasing an additional 1,340 shares in the last quarter. Finally, Premier Fund Managers Ltd grew 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 purchasing an additional 14,262 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GOOGL shares. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Roth Mkm restated a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Bank of America lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research report on Wednesday, June 25th. Ten research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.95.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director directly owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $179.08 on Monday. The firm has a market cap of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The firm has a 50-day moving average of $168.70 and a 200 day moving average of $173.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its 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 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

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

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.