Pure Portfolios Holdings LLC Sells 639 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pure Portfolios Holdings LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,019 shares of the information services provider’s stock after selling 639 shares during the period. Pure Portfolios Holdings LLC’s holdings in Alphabet were worth $776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. Elite Financial Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. EQ Wealth Advisors LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $49,000. Finally, Navigoe LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $51,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on 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 transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on 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 transaction, the director owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $180.19 on Friday. The stock has a market cap of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 stock has a fifty day moving average of $170.32 and a 200-day moving average of $173.31.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the business earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOOGL shares. Jefferies Financial Group cut their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. 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 report on Tuesday, July 8th. Finally, Bank of America lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $199.61.

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.