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

Single Point Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072 shares of the information services provider’s stock after selling 775 shares during the period. Alphabet comprises approximately 1.6% of Single Point Partners LLC’s holdings, making the stock its 11th biggest holding. Single Point Partners LLC’s holdings in Alphabet were worth $1,007,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter worth approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $30,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet during the 2nd quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 in the last ninety days. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOGL. 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 for the company. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. BMO Capital Markets cut their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday, October 7th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Price Performance

GOOGL opened at $163.24 on Monday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $161.37 and its 200 day moving average price is $167.86. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

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