Centerpoint Advisors LLC Sells 5,220 Shares of Alphabet Inc. (NASDAQ:GOOG)

Centerpoint Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,896 shares of the information services provider's stock after selling 5,220 shares during the period. Alphabet comprises 1.7% of Centerpoint Advisors LLC's holdings, making the stock its 12th largest position. Centerpoint Advisors LLC's holdings in Alphabet were worth $4,514,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter valued at about $26,000. LSV Asset Management acquired a new stake in Alphabet in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the 1st quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,219 shares of company stock valued at $49,674,273 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Pivotal Research lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Stock Performance

Shares of GOOG opened at $204.16 on Wednesday. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm's fifty day simple moving average is $183.25 and its two-hundred day simple moving average is $174.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released 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 $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

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.

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