Teamwork Financial Advisors LLC Sells 63,149 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Teamwork Financial Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 54.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,172 shares of the information services provider’s stock after selling 63,149 shares during the quarter. Alphabet comprises approximately 1.1% of Teamwork Financial Advisors LLC’s holdings, making the stock its 26th largest position. Teamwork Financial Advisors LLC’s holdings in Alphabet were worth $8,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new position in Alphabet in the 4th quarter valued at approximately $30,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter valued at $49,000. Finally, Navigoe LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,270 shares of company stock valued at $26,553,563 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.7%

Shares of Alphabet stock opened at $166.18 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.02 trillion, a P/E ratio of 20.64, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average of $159.26 and a 200 day moving average of $174.47.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.51%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOGL. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, May 21st. Needham & Company LLC restated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald dropped their target price on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Susquehanna cut their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, Citigroup increased their price target on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.