Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Reduced by Tran Capital Management L.P.

Tran Capital Management L.P. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,063 shares of the information services provider’s stock after selling 8,108 shares during the quarter. Alphabet makes up approximately 2.1% of Tran Capital Management L.P.’s holdings, making the stock its 18th biggest position. Tran Capital Management L.P.’s holdings in Alphabet were worth $15,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter worth about $30,000. PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter worth about $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the fourth quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.9%

NASDAQ GOOGL opened at $175.70 on Friday. The firm has a market cap of $2.13 trillion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock’s 50 day simple moving average is $162.29 and its 200 day simple moving average is $174.57. 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 data 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 firm 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 last year, the company earned $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.48%. This is a positive change 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%.

Analysts Set New Price Targets

A number of analysts have weighed in on GOOGL shares. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Susquehanna cut their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on 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 directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company’s stock.

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.