Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Orca Investment Management LLC

Orca Investment Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,751 shares of the information services provider’s stock after selling 280 shares during the quarter. Alphabet comprises 2.6% of Orca Investment Management LLC’s portfolio, making the stock its 12th biggest position. Orca Investment Management LLC’s holdings in Alphabet were worth $2,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perritt Capital Management Inc raised its holdings in shares of Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after buying an additional 58 shares during the period. Nia Impact Advisors LLC boosted its holdings in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after acquiring an additional 59 shares during the period. Hanlon Investment Management Inc. grew its position in Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after acquiring an additional 60 shares in the last quarter. Enzi Wealth raised its stake in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the period. Finally, Whipplewood Advisors LLC raised its stake in shares of Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after purchasing an additional 67 shares during the period. 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 firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOGL shares. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Tigress Financial boosted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company raised their target price on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Susquehanna lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Finally, BNP Paribas Exane restated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.39.

Alphabet Price Performance

Shares of GOOGL opened at $189.13 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock’s fifty day moving average is $178.32 and its 200-day moving average is $172.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Alphabet Company 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.