Level Financial Advisors Sells 111 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Level Financial Advisors lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,737 shares of the information services provider’s stock after selling 111 shares during the quarter. Level Financial Advisors’ holdings in Alphabet were worth $423,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet in the 4th quarter valued at about $30,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $51,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.6%

GOOGL stock opened at $169.03 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a fifty day moving average price of $159.18 and a two-hundred day moving average price of $174.53. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOGL. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. DA Davidson cut their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Citigroup raised their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 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 $105,000.00. Following the completion of the transaction, the director now owns 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,270 shares of company stock valued at $26,553,563. 11.64% of the stock is currently owned by corporate insiders.

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.