Trinity Financial Advisors LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Trinity Financial Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 49.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,730 shares of the information services provider’s stock after selling 1,682 shares during the period. Trinity Financial Advisors LLC’s holdings in Alphabet were worth $268,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in Alphabet during the 4th quarter valued at approximately $30,000. PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during 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 acquired a new position in Alphabet during the fourth quarter valued at $49,000. Navigoe LLC acquired a new position in Alphabet during the fourth quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Sanford C. Bernstein upped their price objective on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley lowered their price target on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Citigroup lifted their price objective on shares of Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $189.00 target price on shares of Alphabet in a research report on Wednesday, May 21st. Ten 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.70 on Friday. The stock has a market cap of $2.13 trillion, a PE ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a fifty day simple moving average of $162.29 and a 200-day simple moving average of $174.57. 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 announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the firm posted $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 over the last quarter. 11.64% of the stock is owned by company 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.