Capital Insight Partners LLC Sells 1,792 Shares of Alphabet Inc. $GOOGL

Capital Insight Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,817 shares of the information services provider’s stock after selling 1,792 shares during the period. Alphabet makes up approximately 1.3% of Capital Insight Partners LLC’s investment portfolio, making the stock its 24th biggest position. Capital Insight Partners LLC’s holdings in Alphabet were worth $7,722,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley set a $270.00 price target on shares of Alphabet and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price objective on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Finally, Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.76.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $245.35 on Friday. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a fifty day simple moving average of $221.25 and a 200 day simple moving average of $185.96.

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

Alphabet Announces Dividend

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

About Alphabet

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.