Snider Financial Group Has $1.01 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Snider Financial Group lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,523 shares of the information services provider’s stock after selling 489 shares during the quarter. Snider Financial Group’s holdings in Alphabet were worth $1,009,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Rockbridge Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $3,119,000. Optivise Advisory Services LLC boosted its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the period. Community Bank N.A. boosted its stake in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd boosted its stake in Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after purchasing an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC boosted its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $173.68 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.34 and a beta of 1.01. The stock has a 50 day moving average of $160.14 and a 200 day moving average of $174.35. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOGL shares. Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Needham & Company LLC restated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. KeyCorp boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Morgan Stanley reduced their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.