Cox Capital Mgt LLC Has $5.72 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Cox Capital Mgt LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,005 shares of the information services provider’s stock after selling 369 shares during the period. Alphabet makes up 4.2% of Cox Capital Mgt LLC’s portfolio, making the stock its 4th largest holding. Cox Capital Mgt LLC’s holdings in Alphabet were worth $5,722,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Alphabet by 518.8% during 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 buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,159 shares of company stock valued at $26,534,426. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Stifel Nicolaus dropped their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Mizuho decreased their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial reduced their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Price Performance

Shares of GOOGL stock opened at $169.73 on Monday. The company has a market capitalization of $2.06 trillion, a P/E ratio of 21.08, a P/E/G ratio of 1.34 and a beta of 1.01. The company’s 50-day simple moving average is $159.10 and its two-hundred day simple moving average is $174.56. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared 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. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.36%.

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.