Conservest Capital Advisors Inc. Sells 226 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Conservest Capital Advisors Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the first quarter, Holdings Channel reports. The firm owned 3,844 shares of the information services provider’s stock after selling 226 shares during the period. Conservest Capital Advisors Inc.’s holdings in Alphabet were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GOOGL. M. Kraus & Co lifted its position in shares of Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after buying an additional 66 shares during the period. Wynn Capital LLC raised its position in Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after purchasing an additional 67 shares during the last quarter. Aire Advisors LLC raised its position in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its position in Alphabet by 2.1% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after purchasing an additional 68 shares during the last quarter. Finally, Fiduciary Planning LLC raised its position in Alphabet by 0.7% in the 1st quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock valued at $1,391,000 after purchasing an additional 68 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 $4,880,764.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’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 owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold a total of 122,988 shares of company stock worth $21,015,755 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Argus lifted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Mizuho lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $195.06.

Alphabet Stock Down 0.3 %

NASDAQ:GOOGL opened at $185.07 on Monday. Alphabet Inc. has a 1 year low of $118.22 and a 1 year high of $191.75. 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 stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.39 and a beta of 1.05. The stock has a 50-day moving average price of $177.69 and a two-hundred day moving average price of $157.89.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during 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 period in the previous year, the firm earned $1.17 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders 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 dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 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.