Knightsbridge Asset Management LLC Sells 3,648 Shares of Alphabet Inc. $GOOGL

Knightsbridge Asset Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,744 shares of the information services provider’s stock after selling 3,648 shares during the period. Alphabet accounts for approximately 2.1% of Knightsbridge Asset Management LLC’s holdings, making the stock its 13th biggest holding. Knightsbridge Asset Management LLC’s holdings in Alphabet were worth $8,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nia Impact Advisors LLC lifted its position in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth raised its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC raised its holdings in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock worth $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC raised its holdings in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock worth $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. raised its holdings in Alphabet by 2.1% during the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider’s stock worth $496,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $235.00 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $235.76. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $195.79 and a 200 day simple moving average of $175.41. The stock has a market capitalization of $2.84 trillion, a PE ratio of 25.03, a P/E/G ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Cantor Fitzgerald raised their price target on shares of Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Stifel Nicolaus raised their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, KeyCorp raised their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.33.

Alphabet Company 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.