Vishria Bird Financial Group LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Vishria Bird Financial Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 1st quarter, HoldingsChannel reports. The fund owned 52,822 shares of the information services provider’s stock after selling 88 shares during the quarter. Alphabet accounts for 3.4% of Vishria Bird Financial Group LLC’s portfolio, making the stock its 11th biggest position. Vishria Bird Financial Group LLC’s holdings in Alphabet were worth $7,972,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOGL. Norges Bank bought a new position in Alphabet during the 4th quarter valued at approximately $15,441,917,000. FMR LLC raised its position in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Insiders have sold 253,289 shares of company stock valued at $36,724,534 over the last ninety days. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday. Citigroup upped their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Rosenblatt Securities upped their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial upped their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $189.74.

Alphabet Price Performance

Shares of GOOGL stock traded down $3.37 during trading hours on Tuesday, hitting $162.78. The stock had a trading volume of 33,503,634 shares, compared to its average volume of 30,866,035. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.57 and a beta of 1.05. Alphabet Inc. has a one year low of $103.71 and a one year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The stock’s 50-day moving average price is $148.80 and its two-hundred day moving average price is $141.79.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. Equities analysts forecast that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.49%.

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.