Source Financial Advisors LLC Has $929,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Source Financial Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,154 shares of the information services provider’s stock after selling 66 shares during the period. Source Financial Advisors LLC’s holdings in Alphabet were worth $929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ballast Advisors LLC lifted its position in Alphabet by 0.7% during the 1st quarter. Ballast Advisors LLC now owns 17,176 shares of the information services provider’s stock valued at $2,592,000 after purchasing an additional 118 shares during the period. Centric Wealth Management lifted its position in Alphabet by 4.0% during the 1st quarter. Centric Wealth Management now owns 7,872 shares of the information services provider’s stock valued at $1,281,000 after purchasing an additional 305 shares during the period. Klingman & Associates LLC lifted its position in Alphabet by 2.3% during the 1st quarter. Klingman & Associates LLC now owns 16,066 shares of the information services provider’s stock valued at $2,425,000 after purchasing an additional 362 shares during the period. Oak Ridge Investments LLC lifted its position in Alphabet by 3.9% during the 1st quarter. Oak Ridge Investments LLC now owns 126,723 shares of the information services provider’s stock valued at $19,126,000 after purchasing an additional 4,760 shares during the period. Finally, Ascent Wealth Partners LLC lifted its position in Alphabet by 2.8% during the 1st quarter. Ascent Wealth Partners LLC now owns 60,186 shares of the information services provider’s stock valued at $9,084,000 after purchasing an additional 1,611 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,988 shares of company stock worth $21,015,755. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 2.9 %

GOOGL stock opened at $185.57 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.42 and a beta of 1.05. The business’s fifty day moving average price is $177.33 and its two-hundred day moving average price is $157.35. Alphabet Inc. has a fifty-two week low of $118.22 and a fifty-two week high of $191.75.

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

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Mizuho upped their target price 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. Evercore ISI upped their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. upped their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Canaccord Genuity Group upped their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, KeyCorp upped their price target on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Six equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.06.

Alphabet Company 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.