First Foundation Advisors Sells 566 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Foundation Advisors decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,317 shares of the information services provider’s stock after selling 566 shares during the quarter. First Foundation Advisors’ holdings in Alphabet were worth $8,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Capital Research Global Investors grew its position in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares in the last quarter. PineStone Asset Management Inc. boosted its position in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Alphabet by 91.0% during the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after purchasing an additional 3,777,527 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of GOOGL stock opened at $163.59 on Monday. The stock has a 50 day moving average of $164.72 and a 200 day moving average of $165.79. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the business earned $1.44 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Guggenheim raised their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $201.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

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.