Alphabet Inc. $GOOGL Shares Sold by Tritonpoint Wealth LLC

Key Points

• Tritonpoint Wealth LLC sold 1,136 shares of Alphabet, reducing its holdings by 0.7% in Q2, leaving it with 153,680 shares valued at approximately $27 million.
• Analysts have mixed ratings for Alphabet, with four analysts giving it a "Strong Buy" rating, while others downgraded it to "hold," reflecting uncertainty in market sentiment.
• Insider selling has occurred recently, including a notable sale by John Kent Walker of 17,816 shares, indicating a possible shift in confidence among company executives.

Tritonpoint Wealth LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,680 shares of the information services provider's stock after selling 1,136 shares during the period. Alphabet comprises 2.5% of Tritonpoint Wealth LLC's holdings, making the stock its 6th largest position. Tritonpoint Wealth LLC's holdings in Alphabet were worth $27,083,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC lifted its stake in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its position in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOGL shares. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $240.76.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Company insiders own 11.64% of the company's stock.

Alphabet Trading Down 0.1%

NASDAQ:GOOGL opened at $245.35 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $221.25 and a 200-day moving average of $185.80. The company has a market cap of $2.97 trillion, a PE ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

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.

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