Mayflower Financial Advisors LLC Sells 5,801 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mayflower Financial Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,765 shares of the information services provider’s stock after selling 5,801 shares during the quarter. Alphabet comprises approximately 0.5% of Mayflower Financial Advisors LLC’s holdings, making the stock its 24th biggest position. Mayflower Financial Advisors LLC’s holdings in Alphabet were worth $5,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peterson Wealth Management lifted its holdings in shares of Alphabet by 134.3% during the third quarter. Peterson Wealth Management now owns 7,596 shares of the information services provider’s stock worth $994,000 after buying an additional 4,354 shares in the last quarter. Albar Capital Ltd lifted its holdings in shares of Alphabet by 0.5% during the third quarter. Albar Capital Ltd now owns 22,925 shares of the information services provider’s stock worth $3,000,000 after buying an additional 120 shares in the last quarter. Advanced Portfolio Management LLC lifted its holdings in shares of Alphabet by 12.3% during the third quarter. Advanced Portfolio Management LLC now owns 21,639 shares of the information services provider’s stock worth $2,832,000 after buying an additional 2,372 shares in the last quarter. Absoluto Partners Gestao de Recursos Ltda lifted its holdings in shares of Alphabet by 46.5% during the third quarter. Absoluto Partners Gestao de Recursos Ltda now owns 28,385 shares of the information services provider’s stock worth $3,714,000 after buying an additional 9,016 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Alphabet by 71.9% during the third quarter. Axxcess Wealth Management LLC now owns 164,488 shares of the information services provider’s stock worth $21,016,000 after buying an additional 68,820 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 2.4 %

Shares of Alphabet stock traded up $4.50 during midday trading on Friday, reaching $190.32. The company had a trading volume of 10,359,268 shares, compared to its average volume of 28,276,980. The stock has a fifty day moving average price of $175.05 and a 200 day moving average price of $155.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $2.35 trillion, a PE ratio of 29.05, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $190.44.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the firm earned $1.17 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 over the last ninety days. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOGL shares. JPMorgan Chase & Co. lifted their target price on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wolfe Research raised their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Roth Mkm raised their price target on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Loop Capital restated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

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.