Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Prairie Sky Financial Group LLC

Prairie Sky Financial Group LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,716 shares of the information services provider’s stock after selling 135 shares during the period. Prairie Sky Financial Group LLC’s holdings in Alphabet were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pegasus Partners Ltd. raised its stake in Alphabet by 6.1% during the 3rd quarter. Pegasus Partners Ltd. now owns 30,567 shares of the information services provider’s stock valued at $4,000,000 after acquiring an additional 1,757 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Alphabet by 3.4% in the third quarter. Parkside Financial Bank & Trust now owns 19,763 shares of the information services provider’s stock worth $2,586,000 after purchasing an additional 647 shares during the period. Paragon Private Wealth Management LLC grew its position in Alphabet by 1.6% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 21,739 shares of the information services provider’s stock valued at $2,845,000 after buying an additional 341 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Alphabet by 14.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 408,922 shares of the information services provider’s stock valued at $53,512,000 after buying an additional 53,123 shares during the period. Finally, O ROURKE & COMPANY Inc raised its position in shares of Alphabet by 4.7% during the 3rd quarter. O ROURKE & COMPANY Inc now owns 17,823 shares of the information services provider’s stock worth $2,332,000 after buying an additional 793 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of NASDAQ GOOGL opened at $182.15 on Friday. The business has a 50 day simple moving average of $172.85 and a 200 day simple moving average of $154.29. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The stock has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of research analysts recently commented on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday. Roth Mkm lifted their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Tigress Financial upped their price objective on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price (down previously from $182.00) on shares of Alphabet in a research note on Friday. Finally, Canaccord Genuity Group upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.66.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock valued at $24,534,393 over the last three months. 11.55% of the stock is currently owned by insiders.

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.