Alphabet Inc. (NASDAQ:GOOG) is Tritonpoint Wealth LLC's 8th Largest Position

Tritonpoint Wealth LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,441 shares of the information services provider's stock after selling 4,344 shares during the quarter. Alphabet accounts for 2.1% of Tritonpoint Wealth LLC's investment portfolio, making the stock its 8th biggest position. Tritonpoint Wealth LLC's holdings in Alphabet were worth $22,097,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Matauro LLC increased its holdings in Alphabet by 1.8% in the 1st quarter. Matauro LLC now owns 6,899 shares of the information services provider's stock worth $1,078,000 after buying an additional 122 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in Alphabet by 21.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 2,794 shares of the information services provider's stock worth $436,000 after acquiring an additional 485 shares during the period. Goldstone Financial Group LLC raised its position in Alphabet by 15.1% in the first quarter. Goldstone Financial Group LLC now owns 3,210 shares of the information services provider's stock worth $502,000 after acquiring an additional 420 shares during the period. BigSur Wealth Management LLC raised its position in Alphabet by 10.9% in the first quarter. BigSur Wealth Management LLC now owns 30,630 shares of the information services provider's stock worth $4,785,000 after acquiring an additional 3,000 shares during the period. Finally, Steele Capital Management Inc. bought a new position in Alphabet in the first quarter worth approximately $1,594,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 0.7%

GOOG traded up $1.25 during trading on Monday, hitting $177.13. The stock had a trading volume of 10,008,298 shares, compared to its average volume of 20,470,649. The company has a market capitalization of $2.15 trillion, a PE ratio of 22.01, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day simple moving average of $164.57 and a two-hundred day simple moving average of $176.38.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the company posted $1.89 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's payout ratio is presently 9.36%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.

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.