Single Point Partners LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Single Point Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,979 shares of the information services provider’s stock after selling 310 shares during the quarter. Single Point Partners LLC’s holdings in Alphabet were worth $1,053,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. M. Kraus & Co increased its holdings in shares of Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after acquiring an additional 66 shares during the period. Wynn Capital LLC increased its holdings in shares of Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after acquiring an additional 67 shares during the period. Aire Advisors LLC grew its position in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the last quarter. Defined Wealth Management LLC grew its position in Alphabet by 2.9% in the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after buying an additional 71 shares during the last quarter. Finally, WealthCare Investment Partners LLC grew its position in Alphabet by 2.1% in the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Tigress Financial lifted their price objective on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Wolfe Research lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Citigroup lifted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock valued at $26,375,053 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $179.22 on Tuesday. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.89. The company has a 50-day moving average of $170.54 and a 200-day moving average of $153.02. 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 company has a market cap of $2.21 trillion, a P/E ratio of 27.49, a P/E/G ratio of 1.35 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.