Emerald Mutual Fund Advisers Trust Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Emerald Mutual Fund Advisers Trust decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,256 shares of the information services provider’s stock after selling 758 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Alphabet were worth $967,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOGL. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Highview Capital Management LLC DE grew its position in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC grew its position in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after purchasing an additional 13,564 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $185.06 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business’s fifty day moving average is $172.90 and its 200 day moving average is $173.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.25 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.30 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s 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 $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock valued at $37,288,490 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Wells Fargo & Company raised their price objective on shares of Alphabet from $175.00 to $177.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Sanford C. Bernstein raised their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.68.

Alphabet 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.