REAP Financial Group LLC Sells 336 Shares of Alphabet Inc. (NASDAQ:GOOGL)

REAP Financial Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,749 shares of the information services provider’s stock after selling 336 shares during the quarter. REAP Financial Group LLC’s holdings in Alphabet were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $49,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.4%

Shares of GOOGL opened at $168.47 on Monday. The firm has a market cap of $2.04 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company’s 50-day moving average price is $158.57 and its 200 day moving average price is $174.83. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s payout ratio is currently 9.36%.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOGL shares. Wells Fargo & Company increased their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Cantor Fitzgerald reduced their price target on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets reissued an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Citigroup raised their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares of the company’s stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,654 shares of company stock valued at $26,793,380. 11.64% of the stock is currently owned by corporate insiders.

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.