Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Saturna Capital Corp

Saturna Capital Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,431,847 shares of the information services provider’s stock after selling 574 shares during the quarter. Alphabet comprises 3.3% of Saturna Capital Corp’s investment portfolio, making the stock its 7th largest holding. Saturna Capital Corp’s holdings in Alphabet were worth $221,421,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harbour Trust & Investment Management Co raised its stake in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at $3,119,000. Cypress Capital LLC raised its stake in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Optivise Advisory Services LLC raised its stake in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Finally, Community Bank N.A. raised its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $192.17 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market cap of $2.33 trillion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The stock’s 50-day moving average price is $175.23 and its two-hundred day moving average price is $173.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOGL shares. Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. DA Davidson upped their target price on Alphabet from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp increased their price objective on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday. Guggenheim increased their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday. Ten investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.32.

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.