Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Reliant Investment Management LLC

Reliant Investment Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,146 shares of the information services provider’s stock after selling 301 shares during the quarter. Alphabet makes up 3.7% of Reliant Investment Management LLC’s portfolio, making the stock its 4th biggest holding. Reliant Investment Management LLC’s holdings in Alphabet were worth $7,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $38,000. Armor Investment Advisors LLC lifted its holdings in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC boosted its stake in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new stake in Alphabet during the 4th quarter valued at approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Jefferies Financial Group lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Price Performance

NASDAQ:GOOGL opened at $182.99 on Tuesday. The firm’s fifty day moving average is $172.85 and its two-hundred day moving average is $154.44. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.37 and a beta of 1.05. 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 Inc. has a one year low of $115.35 and a one year high of $186.05.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,344 shares of company stock valued at $23,920,676. Corporate insiders own 11.55% of the company’s stock.

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.