FDx Advisors Inc. Sells 410 Shares of Alphabet Inc. (NASDAQ:GOOGL)

FDx Advisors Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,702 shares of the information services provider’s stock after selling 410 shares during the quarter. FDx Advisors Inc.’s holdings in Alphabet were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $39,000. Elite Financial Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $49,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Alphabet in the first quarter valued at approximately $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% 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 worth $37,288,490 in the last 90 days. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on GOOGL shares. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. KeyCorp boosted their target price on Alphabet from $195.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America boosted their target price on Alphabet from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial reiterated a “buy” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.68.

Alphabet Trading Up 0.8%

NASDAQ GOOGL opened at $185.06 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $172.90 and a 200-day moving average of $173.01. The firm has a market cap of $2.25 trillion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

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

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.