True North Advisors LLC Sells 3,849 Shares of Alphabet Inc. (NASDAQ:GOOGL)

True North Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,225 shares of the information services provider’s stock after selling 3,849 shares during the quarter. Alphabet accounts for about 1.3% of True North Advisors LLC’s investment portfolio, making the stock its 10th largest position. True North Advisors LLC’s holdings in Alphabet were worth $4,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Anderson Hoagland & Co. grew its holdings in shares of Alphabet by 1.1% during the 1st quarter. Anderson Hoagland & Co. now owns 31,399 shares of the information services provider’s stock worth $4,902,000 after purchasing an additional 334 shares in the last quarter. Metropolis Capital Ltd grew its holdings in shares of Alphabet by 20.3% during the 1st quarter. Metropolis Capital Ltd now owns 2,489,639 shares of the information services provider’s stock worth $375,761,000 after purchasing an additional 419,957 shares in the last quarter. Neumann Advisory Hong Kong Ltd acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $1,207,000. Purus Wealth Management LLC grew its holdings in shares of Alphabet by 9.3% during the 1st quarter. Purus Wealth Management LLC now owns 28,201 shares of the information services provider’s stock worth $4,256,000 after purchasing an additional 2,407 shares in the last quarter. Finally, High Net Worth Advisory Group LLC grew its holdings in shares of Alphabet by 3.0% during the 1st quarter. High Net Worth Advisory Group LLC now owns 11,089 shares of the information services provider’s stock worth $1,674,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Roth Mkm lifted their price objective on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Oppenheimer raised their target price on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Barclays raised their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.26.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,458 shares of company stock valued at $26,375,053. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $179.22 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.89. The business has a fifty day simple moving average of $170.54 and a 200 day simple moving average of $153.02. The stock has a market cap of $2.21 trillion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.