Hexagon Capital Partners LLC Has $1.77 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hexagon Capital Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,450 shares of the information services provider’s stock after selling 630 shares during the quarter. Alphabet makes up about 0.3% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Hexagon Capital Partners LLC’s holdings in Alphabet were worth $1,771,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOOGL. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $28,000. Elite Financial Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC acquired a new stake in Alphabet in the 1st quarter worth approximately $49,000. Finally, Navigoe LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $51,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their position. 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 90 days. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on GOOGL shares. Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Bank of America lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their price target on Alphabet from $175.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.61.

Alphabet Price Performance

Alphabet stock opened at $180.19 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.00. The business’s fifty day moving average is $170.32 and its two-hundred day moving average is $173.31. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was 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%.

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.