PSI Advisors LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

PSI Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,408 shares of the information services provider’s stock after selling 1,913 shares during the quarter. PSI Advisors LLC’s holdings in Alphabet were worth $1,300,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOOGL. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the 4th quarter worth about $3,119,000. Optivise Advisory Services LLC increased its position in 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 purchasing an additional 403 shares in the last quarter. Community Bank N.A. increased its position in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd increased its position in Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC increased its position in Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Susquehanna decreased their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Alphabet Stock Performance

Alphabet stock opened at $166.64 on Friday. The stock’s 50 day moving average price is $164.77 and its 200 day moving average price is $174.71. The firm has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate 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 34.54% and a net margin of 30.86%. During the same period in the previous year, the company posted $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is 9.36%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction 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 represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,070 shares of company stock valued at $37,745,632. Corporate insiders own 11.64% of the company’s stock.

Alphabet Profile

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.