Viewpoint Capital Management LLC Sells 119 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Viewpoint Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,344 shares of the information services provider’s stock after selling 119 shares during the quarter. Viewpoint Capital Management LLC’s holdings in Alphabet were worth $973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Solano Wealth Management Inc. lifted its position in Alphabet by 2.2% during the 2nd quarter. Solano Wealth Management Inc. now owns 4,394 shares of the information services provider’s stock worth $800,000 after buying an additional 94 shares in the last quarter. Legacy Advisors LLC lifted its position in Alphabet by 5.6% during the 2nd quarter. Legacy Advisors LLC now owns 69,363 shares of the information services provider’s stock valued at $12,635,000 after purchasing an additional 3,652 shares during the period. Rothschild Investment LLC acquired a new position in Alphabet during the 2nd quarter valued at about $33,298,000. Blue Fin Capital Inc. lifted its position in Alphabet by 2.9% during the 2nd quarter. Blue Fin Capital Inc. now owns 107,909 shares of the information services provider’s stock valued at $19,656,000 after purchasing an additional 2,995 shares during the period. Finally, Cadinha & Co. LLC lifted its position in Alphabet by 1.0% during the 2nd quarter. Cadinha & Co. LLC now owns 128,528 shares of the information services provider’s stock valued at $23,411,000 after purchasing an additional 1,292 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Tuesday, July 30th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Performance

Shares of GOOGL stock opened at $151.16 on Thursday. The business’s 50-day moving average price is $168.75 and its 200-day moving average price is $164.42. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the firm posted $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. 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 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 transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold a total of 179,367 shares of company stock valued at $30,016,931 over the last ninety days. 11.55% of the stock is owned by company insiders.

About Alphabet

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.