InTrack Investment Management Inc Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

InTrack Investment Management Inc cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,480 shares of the information services provider’s stock after selling 2,000 shares during the quarter. InTrack Investment Management Inc’s holdings in Alphabet were worth $538,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. Wealth Group Ltd. lifted its stake in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after buying an additional 78 shares during the last quarter. Capital & Planning LLC grew its position in Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after purchasing an additional 1,119 shares during the last quarter. Eagle Capital Management LLC increased its stake in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Alphabet during the fourth quarter worth approximately $154,716,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Stifel Nicolaus reduced their price target 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. Finally, DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Trading Down 0.7%

GOOGL opened at $177.35 on Thursday. The stock has a market capitalization of $2.15 trillion, a P/E ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.01. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm’s fifty day simple moving average is $161.71 and its 200 day simple moving average is $174.51.

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 for 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 period in the previous year, the company posted $1.89 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.