SignalPoint Asset Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

SignalPoint Asset Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the first quarter, HoldingsChannel reports. The firm owned 21,739 shares of the information services provider’s stock after selling 305 shares during the period. Alphabet comprises 0.9% of SignalPoint Asset Management LLC’s portfolio, making the stock its 21st largest holding. SignalPoint Asset Management LLC’s holdings in Alphabet were worth $3,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. 17 Capital Partners LLC increased its position in Alphabet by 3.9% during the 1st quarter. 17 Capital Partners LLC now owns 18,869 shares of the information services provider’s stock valued at $2,848,000 after purchasing an additional 714 shares during the period. Gulf International Bank UK Ltd grew its position in shares of Alphabet by 1.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 502,341 shares of the information services provider’s stock worth $75,818,000 after buying an additional 8,646 shares during the last quarter. Optimum Investment Advisors grew its position in shares of Alphabet by 10.2% in the 1st quarter. Optimum Investment Advisors now owns 8,835 shares of the information services provider’s stock worth $1,333,000 after buying an additional 815 shares during the last quarter. Guinness Asset Management LTD grew its position in shares of Alphabet by 9.2% in the 1st quarter. Guinness Asset Management LTD now owns 209,097 shares of the information services provider’s stock worth $31,559,000 after buying an additional 17,667 shares during the last quarter. Finally, Meyer Handelman Co. grew its position in shares of Alphabet by 29.2% in the 1st quarter. Meyer Handelman Co. now owns 104,758 shares of the information services provider’s stock worth $15,811,000 after buying an additional 23,707 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on 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 directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,958 shares of company stock worth $22,383,553. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Evercore ISI lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. TD Cowen boosted their target price on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Susquehanna boosted their target price on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Stock Performance

GOOGL opened at $179.63 on Friday. 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 fifty day moving average price of $170.05 and a 200 day moving average price of $152.56. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $180.85. The stock has a market cap of $2.22 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the business posted $1.17 EPS. Equities research analysts anticipate 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. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet Company 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.