Sfm LLC Sells 6,561 Shares of Alphabet Inc. $GOOGL

Sfm LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,890 shares of the information services provider’s stock after selling 6,561 shares during the period. Alphabet comprises 2.0% of Sfm LLC’s holdings, making the stock its 12th biggest holding. Sfm LLC’s holdings in Alphabet were worth $3,153,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Alphabet in the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock valued at $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Finally, Amundi raised its holdings in shares of Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Finally, Piper Sandler upped their price target on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.3%

NASDAQ GOOGL opened at $245.69 on Friday. The company has a fifty day simple moving average of $220.21 and a two-hundred day simple moving average of $185.22. The stock has a market cap of $2.97 trillion, a P/E ratio of 26.17, a P/E/G ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

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.