Alphabet Inc. $GOOGL Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the first quarter, HoldingsChannel.com reports. The firm owned 178,753 shares of the information services provider’s stock after selling 10,299 shares during the quarter. Alphabet comprises about 0.6% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 20th largest holding. Segall Bryant & Hamill LLC’s holdings in Alphabet were worth $51,402,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC grew its position in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC lifted its position in Alphabet by 0.5% during the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after buying an additional 27 shares during the period. Cadia Private Client LLC lifted its position in Alphabet by 1.1% during the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after buying an additional 28 shares during the period. Midwest Professional Planners LTD. boosted its stake in Alphabet by 1.2% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider’s stock worth $680,000 after buying an additional 29 shares during the last quarter. Finally, Symmetry Partners LLC boosted its stake in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after buying an additional 30 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOGL. Truist Financial set a $420.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Thursday, July 23rd. Canaccord Genuity Group raised their target price on shares of Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Piper Sandler restated an “overweight” rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, June 22nd. Finally, Wells Fargo & Company set a $411.00 price target on shares of Alphabet and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $419.86.

Alphabet Stock Performance

NASDAQ GOOGL opened at $354.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 1-year low of $196.60 and a 1-year high of $408.61. The firm has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a P/E/G ratio of 1.00 and a beta of 1.24. The business’s 50-day simple moving average is $355.68 and its 200-day simple moving average is $340.41.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Equities analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is presently 4.42%.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the transaction, the director owned 18,914 shares of the company’s stock, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. Insiders sold 600,547 shares of company stock worth $16,255,540 over the last three months. 11.61% of the stock is currently owned by insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.