Deltec Asset Management LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Deltec Asset Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 211,202 shares of the information services provider’s stock after selling 3,900 shares during the quarter. Alphabet accounts for 6.3% of Deltec Asset Management LLC’s holdings, making the stock its 2nd biggest position. Deltec Asset Management LLC’s holdings in Alphabet were worth $31,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Richardson Capital Management LLC raised its holdings in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Armor Investment Advisors LLC lifted its position in shares of Alphabet by 31.0% in 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 in the last quarter. Finally, IAG Wealth Partners LLC boosted its holdings in Alphabet by 55.9% during 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. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Argus upped their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Canaccord Genuity Group raised their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wedbush upped their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Susquehanna raised their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $185.82 on Thursday. The firm has a 50 day moving average of $173.92 and a 200-day moving average of $155.17. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $186.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.30 trillion, a PE ratio of 28.50, a PEG ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate 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 earned $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is currently owned by corporate 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.