Graypoint LLC Sells 4,032 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Graypoint LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,886 shares of the information services provider's stock after selling 4,032 shares during the period. Graypoint LLC's holdings in Alphabet were worth $9,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $24,383,677,000. FMR LLC boosted its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. Cantor Fitzgerald raised their price objective on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Needham & Company LLC upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.32.

Alphabet Trading Down 0.9%

Shares of GOOGL stock traded down $1.72 on Monday, reaching $191.46. The company had a trading volume of 10,084,162 shares, compared to its average volume of 36,871,352. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.32 trillion, a PE ratio of 20.41, a PEG ratio of 1.31 and a beta of 1.00. The company has a 50-day moving average of $175.77 and a 200-day moving average of $172.79. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same period in the prior year, the business posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by corporate insiders.

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.