American Financial Advisors LLC Sells 680 Shares of Alphabet Inc. (NASDAQ:GOOGL)

American Financial Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,164 shares of the information services provider’s stock after selling 680 shares during the period. American Financial Advisors LLC’s holdings in Alphabet were worth $2,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter valued at $38,000. Richardson Capital Management LLC boosted its holdings in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares during the period. Finally, Meritage Group LP grew its position in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer increased their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James raised their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Barclays increased their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Sanford C. Bernstein upped their price objective on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.44.

Alphabet Price Performance

Shares of GOOGL stock traded down $5.80 during mid-day trading on Monday, hitting $166.15. 45,549,086 shares of the stock were exchanged, compared to its average volume of 30,833,311. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $103.71 and a 52-week high of $174.71. The firm has a fifty day moving average of $148.36 and a 200 day moving average of $141.62. The company has a market cap of $2.07 trillion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company posted $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, June 10th.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 in the last three months. 0.88% of the stock is currently owned by insiders.

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.