IFG Advisors LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

IFG Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,660 shares of the information services provider’s stock after selling 385 shares during the period. IFG Advisors LLC’s holdings in Alphabet were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth about $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet during the 4th quarter worth about $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. DA Davidson decreased their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. KeyCorp boosted their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Jefferies Financial Group decreased their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Stifel Nicolaus dropped their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Performance

Shares of GOOGL stock opened at $169.73 on Friday. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50 day simple moving average of $159.10 and a 200-day simple moving average of $174.59. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 164,533 shares of company stock valued at $26,772,774. Corporate insiders own 11.55% of the company’s stock.

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.