Overbrook Management Corp Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Overbrook Management Corp lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the information services provider’s stock after selling 5,080 shares during the quarter. Alphabet comprises 0.5% of Overbrook Management Corp’s portfolio, making the stock its 28th largest position. Overbrook Management Corp’s holdings in Alphabet were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP grew its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the last quarter. Armor Investment Advisors LLC increased its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its stake in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of Alphabet stock opened at $182.15 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a fifty day moving average of $172.85 and a 200 day moving average of $154.29. The company has a market capitalization of $2.25 trillion, a P/E ratio of 27.94, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm 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 quarter in the prior year, the company posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Susquehanna increased their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets reissued an “outperform” rating and set a $215.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Transactions at Alphabet

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

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.