MCF Advisors LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MCF Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,553 shares of the information services provider’s stock after selling 2,293 shares during the quarter. MCF Advisors LLC’s holdings in Alphabet were worth $2,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Armor Investment Advisors LLC boosted its holdings in shares of Alphabet by 31.0% during the fourth 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 during the period. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 55.9% in the fourth 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 last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet during the 4th quarter valued at about $55,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares in the company, valued at $663,107.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on 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 directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of 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. Over the last three months, insiders have sold 142,344 shares of company stock worth $23,920,676. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.5 %

Alphabet stock opened at $182.99 on Tuesday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The company has a market cap of $2.26 trillion, a P/E ratio of 28.07, a P/E/G ratio of 1.37 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $172.85 and a two-hundred day simple moving average of $154.44.

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, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the business posted $1.17 earnings per share. Analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. Argus lifted their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. TD Cowen boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Truist Financial upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Finally, Loop Capital increased their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Six equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

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.