Point72 Italy S.r.l. Has $2.01 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Point72 Italy S.r.l. significantly reduced its stake in Alphabet Inc. by 91.8%, selling 144,700 shares and retaining only 13,000 shares, which makes up approximately 2.0% of their investment portfolio.
• Several large institutional investors, including Vanguard Group Inc. and Invesco Ltd., have increased their holdings in Alphabet, indicating strong backing from these firms.
• Alphabet announced a quarterly dividend of $0.21 per share, which will be paid on September 15, representing an annualized dividend yield of 0.4%.

Point72 Italy S.r.l. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 91.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the information services provider's stock after selling 144,700 shares during the period. Alphabet makes up approximately 2.0% of Point72 Italy S.r.l.'s portfolio, making the stock its 17th biggest position. Point72 Italy S.r.l.'s holdings in Alphabet were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Eagle Capital Management LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares during the period. Brighton Jones LLC grew its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Highview Capital Management LLC DE grew its position in Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its position in Alphabet by 13.7% in the 4th quarter. Legacy Investment Solutions LLC now owns 980 shares of the information services provider's stock valued at $182,000 after acquiring an additional 118 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. DA Davidson raised their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $221.31.

Insider Transactions at Alphabet

In other news, 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 of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,210 shares of company stock worth $41,742,155 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock traded up $1.63 during trading on Thursday, reaching $232.29. 37,248,351 shares of the company's stock were exchanged, compared to its average volume of 36,656,480. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $232.04. The company's fifty day moving average price is $193.49 and its 200-day moving average price is $174.80. The firm has a market cap of $2.81 trillion, a PE ratio of 24.74, a P/E/G ratio of 1.43 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. 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 payout ratio is currently 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.