Successful Portfolios LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Successful Portfolios LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,688 shares of the information services provider’s stock after selling 627 shares during the period. Alphabet accounts for approximately 1.2% of Successful Portfolios LLC’s holdings, making the stock its 19th largest holding. Successful Portfolios LLC’s holdings in Alphabet were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mayfair Advisory Group LLC raised its stake in shares of Alphabet by 18.1% in the first quarter. Mayfair Advisory Group LLC now owns 3,192 shares of the information services provider’s stock valued at $482,000 after acquiring an additional 490 shares in the last quarter. Financial Partners Group LLC boosted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Financial Partners Group LLC now owns 76,397 shares of the information services provider’s stock valued at $11,531,000 after buying an additional 4,767 shares in the last quarter. Seneca House Advisors grew its holdings in shares of Alphabet by 7.1% during the first quarter. Seneca House Advisors now owns 67,436 shares of the information services provider’s stock worth $10,178,000 after purchasing an additional 4,448 shares during the last quarter. Breakwater Capital Group increased its position in Alphabet by 4.0% during the first quarter. Breakwater Capital Group now owns 7,385 shares of the information services provider’s stock worth $1,115,000 after buying an additional 285 shares during the period. Finally, Clarity Wealth Advisors LLC increased its holdings in shares of Alphabet by 2.2% in the 1st quarter. Clarity Wealth Advisors LLC now owns 53,172 shares of the information services provider’s stock valued at $8,025,000 after acquiring an additional 1,161 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 value of $113,668.94. Following the sale, the chief accounting officer now directly 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 available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $185.82 on Thursday. 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 twelve month low of $115.35 and a twelve month high of $186.09. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a 50-day simple moving average of $173.92 and a two-hundred day simple moving average of $155.17.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company earned $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Wolfe Research raised their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada lifted their target price on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Citigroup increased their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.66.

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.