Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Garrison Point Advisors LLC

Garrison Point Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,945 shares of the information services provider’s stock after selling 262 shares during the period. Alphabet accounts for approximately 2.5% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Garrison Point Advisors LLC’s holdings in Alphabet were worth $3,815,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Studio Investment Management LLC boosted its stake in Alphabet by 1.2% during the 2nd quarter. Studio Investment Management LLC now owns 54,561 shares of the information services provider’s stock valued at $9,938,000 after purchasing an additional 673 shares during the last quarter. Blue Square Asset Management LLC boosted its stake in Alphabet by 17.2% during the 2nd quarter. Blue Square Asset Management LLC now owns 22,402 shares of the information services provider’s stock valued at $4,081,000 after purchasing an additional 3,281 shares during the last quarter. Vaughan David Investments LLC IL boosted its stake in Alphabet by 25.3% during the 2nd quarter. Vaughan David Investments LLC IL now owns 6,258 shares of the information services provider’s stock valued at $1,140,000 after purchasing an additional 1,263 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in Alphabet by 21.4% during the 2nd quarter. Angeles Wealth Management LLC now owns 27,905 shares of the information services provider’s stock valued at $5,083,000 after purchasing an additional 4,911 shares during the last quarter. Finally, Morling Financial Advisors LLC boosted its stake in Alphabet by 101.2% during the 2nd quarter. Morling Financial Advisors LLC now owns 1,141 shares of the information services provider’s stock valued at $208,000 after purchasing an additional 574 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock valued at $29,878,106 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Securities boosted their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $222.00 price target on shares of Alphabet in a report on Monday, September 16th. Finally, Bank of America lifted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Stock Performance

NASDAQ GOOGL opened at $162.29 on Wednesday. The company has a 50-day simple moving average of $163.80 and a two-hundred day simple moving average of $166.17. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.