AIMZ Investment Advisors LLC Sells 164 Shares of Alphabet Inc. $GOOGL

AIMZ Investment Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the first quarter, HoldingsChannel.com reports. The firm owned 43,029 shares of the information services provider’s stock after selling 164 shares during the period. Alphabet accounts for about 2.3% of AIMZ Investment Advisors LLC’s investment portfolio, making the stock its 8th largest holding. AIMZ Investment Advisors LLC’s holdings in Alphabet were worth $6,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC increased its stake in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. increased its stake in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Wellington Management Group LLP raised its position in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOGL shares. Piper Sandler upped their price objective on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Tigress Financial boosted their price target on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. KeyCorp increased their price objective on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Rosenblatt Securities lifted their price objective on Alphabet from $189.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $207.14 on Wednesday. The business’s fifty day moving average is $188.07 and its two-hundred day moving average is $173.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.51 trillion, a P/E ratio of 22.06, a P/E/G ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $210.52.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

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.