Atticus Wealth Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Atticus Wealth Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,008 shares of the information services provider’s stock after selling 1,643 shares during the period. Alphabet accounts for approximately 0.7% of Atticus Wealth Management LLC’s portfolio, making the stock its 24th largest position. Atticus Wealth Management LLC’s holdings in Alphabet were worth $2,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Fox Hill Wealth Management raised its holdings in Alphabet by 7.3% during the first quarter. Fox Hill Wealth Management now owns 6,240 shares of the information services provider’s stock worth $942,000 after purchasing an additional 422 shares in the last quarter. Brown Miller Wealth Management LLC raised its holdings in Alphabet by 1.1% during the first quarter. Brown Miller Wealth Management LLC now owns 30,510 shares of the information services provider’s stock worth $4,604,000 after purchasing an additional 333 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Alphabet by 2.9% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 4,950 shares of the information services provider’s stock worth $747,000 after purchasing an additional 140 shares in the last quarter. CRA Financial Services LLC raised its holdings in Alphabet by 0.9% during the first quarter. CRA Financial Services LLC now owns 66,305 shares of the information services provider’s stock worth $10,007,000 after purchasing an additional 573 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Alphabet by 2.1% during the first quarter. Kathleen S. Wright Associates Inc. now owns 10,328 shares of the information services provider’s stock worth $1,560,000 after purchasing an additional 215 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.24 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.37 and a beta of 1.05. The firm’s fifty day simple moving average is $173.38 and its 200 day simple moving average is $154.80. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, June 28th. Bank of America reiterated a “buy” rating and set a $200.00 price target on shares of Alphabet in a research report on Tuesday, June 11th. Finally, Wedbush lifted their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

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.