Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,268 shares of the information services provider’s stock after selling 412 shares during the period. Hoey Investments Inc.’s holdings in Alphabet were worth $196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Planning Associates Inc acquired a new position in Alphabet during the 4th quarter worth approximately $30,000. PayPay Securities Corp lifted its position 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 buying an additional 65 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOGL shares. BMO Capital Markets restated an “outperform” rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Truist Financial reduced their price objective on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. 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. Roth Mkm restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $174.67 on Monday. 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 firm has a 50-day moving average price of $162.89 and a two-hundred day moving average price of $174.68. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. 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.