Opinicus Capital Inc. Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Opinicus Capital Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,865 shares of the information services provider’s stock after selling 79 shares during the quarter. Opinicus Capital Inc.’s holdings in Alphabet were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter worth $38,000. Armor Investment Advisors LLC grew its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. IAG Wealth Partners LLC increased its position 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 valued at $48,000 after buying an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Alphabet during the 4th quarter worth $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $182.99 on Tuesday. The company has a market cap of $2.26 trillion, a P/E ratio of 28.07, a PEG ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05. The business’s 50-day simple moving average is $172.85 and its 200 day simple moving average is $154.44. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations 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 company posted $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday. Wedbush lifted their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Oppenheimer upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Mizuho raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Evercore ISI upped their price objective on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Six investment 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. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,344 shares of company stock valued at $23,920,676. 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.