Tritonpoint Wealth LLC Has $23.94 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Tritonpoint Wealth LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,816 shares of the information services provider's stock after selling 1,957 shares during the quarter. Alphabet makes up 2.3% of Tritonpoint Wealth LLC's investment portfolio, making the stock its 6th largest position. Tritonpoint Wealth LLC's holdings in Alphabet were worth $23,941,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wealth Group Ltd. raised its stake in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC grew its stake in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Alphabet in the fourth quarter valued at $154,716,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction 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 directly owns 2,587,696 shares of the company's stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction 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 owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL stock traded up $2.10 during midday trading on Monday, reaching $176.77. The company had a trading volume of 27,312,231 shares, compared to its average volume of 35,650,289. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $162.89 and a 200 day moving average price of $174.68. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market capitalization of $2.15 trillion, a PE ratio of 21.96, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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 return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is 9.36%.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Stifel Nicolaus dropped their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Rosenblatt Securities restated a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. DA Davidson decreased their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Citigroup raised their target price on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $199.75.

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.