Fourpath Capital Management LLC Has $621,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fourpath Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,014 shares of the information services provider’s stock after selling 98 shares during the period. Fourpath Capital Management LLC’s holdings in Alphabet were worth $621,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. Requisite Capital Management LLC lifted its position in shares of Alphabet by 100.2% in the first quarter. Requisite Capital Management LLC now owns 4,672 shares of the information services provider’s stock worth $722,000 after purchasing an additional 2,338 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Alphabet by 41.3% in the first quarter. Harbor Capital Advisors Inc. now owns 106,535 shares of the information services provider’s stock worth $16,475,000 after purchasing an additional 31,124 shares in the last quarter. Regatta Capital Group LLC lifted its position in shares of Alphabet by 1.6% in the first quarter. Regatta Capital Group LLC now owns 69,422 shares of the information services provider’s stock worth $10,735,000 after purchasing an additional 1,082 shares in the last quarter. Parisi Gray Wealth Management lifted its position in shares of Alphabet by 8.7% in the first quarter. Parisi Gray Wealth Management now owns 38,122 shares of the information services provider’s stock worth $5,895,000 after purchasing an additional 3,061 shares in the last quarter. Finally, Octavia Wealth Advisors LLC lifted its position in shares of Alphabet by 2.9% in the first quarter. Octavia Wealth Advisors LLC now owns 114,046 shares of the information services provider’s stock worth $17,636,000 after purchasing an additional 3,183 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $176.09 on Tuesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.14 trillion, a P/E ratio of 21.87, a P/E/G ratio of 1.34 and a beta of 1.01. The firm’s fifty day moving average price is $160.52 and its two-hundred day moving average price is $174.46. 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 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 company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the business posted $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup boosted their price objective 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. Bank of America boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a research report on Wednesday, May 21st. Finally, Piper Sandler boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.