Flower City Capital Has $381,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Flower City Capital decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,524 shares of the information services provider’s stock after selling 116 shares during the quarter. Alphabet accounts for approximately 0.3% of Flower City Capital’s investment portfolio, making the stock its 23rd largest position. Flower City Capital’s holdings in Alphabet were worth $381,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOGL. RWQ Financial Management Services Inc. increased its stake in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 4,664 shares during the period. Picton Mahoney Asset Management increased its stake in shares of Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the period. Robbins Farley increased its stake in shares of Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $787,000. Finally, Quantum Financial Advisors LLC increased its stake in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last three months, insiders sold 146,374 shares of company stock valued at $24,548,073. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. Canaccord Genuity Group upped their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Evercore ISI increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Susquehanna increased their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Bank of America reissued a “buy” rating and set a $200.00 target price on shares of Alphabet in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Trading Up 2.7 %

NASDAQ GOOGL opened at $184.03 on Wednesday. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 28.23, a PEG ratio of 1.35 and a beta of 1.01. The business has a fifty day simple moving average of $171.13 and a 200 day simple moving average of $153.36. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $184.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm posted $1.17 EPS. On average, analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.