Dumont & Blake Investment Advisors LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Dumont & Blake Investment Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.8% in the first quarter, Holdings Channel reports. The firm owned 23,063 shares of the information services provider’s stock after selling 1,945 shares during the period. Alphabet accounts for 1.0% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Dumont & Blake Investment Advisors LLC’s holdings in Alphabet were worth $3,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter worth approximately $38,000. Richardson Capital Management LLC lifted its holdings in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the period. Armor Investment Advisors LLC boosted its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC boosted its position in Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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. Over the last quarter, insiders sold 123,788 shares of company stock worth $21,143,403. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $185.82 on Thursday. The business’s 50-day moving average price is $173.92 and its 200 day moving average price is $155.17. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap 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. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.09.

Alphabet (NASDAQ:GOOGL) last issued 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 net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the company earned $1.17 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current 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 payout ratio is 12.27%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOOGL shares. Loop Capital restated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday. Mizuho increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. KeyCorp boosted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Bank of America restated a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research note on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus 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.