Centerpoint Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,837 shares of the information services provider's stock after selling 5,106 shares during the period. Alphabet makes up about 1.1% of Centerpoint Advisors LLC's portfolio, making the stock its 16th biggest holding. Centerpoint Advisors LLC's holdings in Alphabet were worth $3,068,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in GOOGL. Nuveen LLC bought a new position in Alphabet during the 1st quarter worth $4,317,606,000. GAMMA Investing LLC increased its stake in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. increased its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Northern Trust Corp increased its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Wellington Management Group LLP increased its stake in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on GOOGL shares. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Guggenheim raised their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Needham & Company LLC lifted their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.53.
Check Out Our Latest Research Report on GOOGL
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,319 shares of company stock worth $44,243,272. 11.55% of the stock is currently owned by insiders.
Alphabet Trading Down 0.9%
Shares of GOOGL opened at $201.57 on Wednesday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business's fifty day moving average is $185.26 and its 200-day moving average is $173.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.37 and a beta of 1.01.
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 for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.
Alphabet Profile
(
Free Report)
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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