Trivium Point Advisory LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Trivium Point Advisory LLC increased its stake in Alphabet Inc. by 25.2% in the first quarter, owning 46,173 shares valued at $7.2 million.
• Alphabet's latest earnings report revealed an EPS of $2.31, surpassing analysts' expectations, with a revenue of $96.43 billion, reflecting a 13.8% year-over-year increase.
• Alphabet has announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, payable to investors on September 15th.

Trivium Point Advisory LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,173 shares of the information services provider's stock after buying an additional 9,293 shares during the quarter. Alphabet makes up approximately 0.9% of Trivium Point Advisory LLC's investment portfolio, making the stock its 23rd biggest holding. Trivium Point Advisory LLC's holdings in Alphabet were worth $7,214,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Certuity LLC increased its holdings in Alphabet by 4.4% during the first quarter. Certuity LLC now owns 32,123 shares of the information services provider's stock valued at $5,019,000 after buying an additional 1,353 shares during the period. Inspire Trust Co. N.A. grew its holdings in Alphabet by 57.0% in the first quarter. Inspire Trust Co. N.A. now owns 32,180 shares of the information services provider's stock worth $5,027,000 after purchasing an additional 11,680 shares during the last quarter. Waypoint Wealth Partners Inc. grew its holdings in Alphabet by 7.7% in the first quarter. Waypoint Wealth Partners Inc. now owns 18,050 shares of the information services provider's stock worth $2,820,000 after purchasing an additional 1,292 shares during the last quarter. Oak Ridge Investments LLC grew its holdings in Alphabet by 5.3% in the first quarter. Oak Ridge Investments LLC now owns 235,446 shares of the information services provider's stock worth $36,784,000 after purchasing an additional 11,810 shares during the last quarter. Finally, OneAscent Investment Solutions LLC purchased a new position in Alphabet in the first quarter worth $244,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.6%

GOOG stock opened at $203.03 on Thursday. The stock has a market capitalization of $2.46 trillion, a P/E ratio of 21.62, a P/E/G ratio of 1.36 and a beta of 1.02. The firm has a 50-day simple moving average of $183.93 and a 200-day simple moving average of $174.75. 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 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during 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 company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,219 shares of company stock worth $49,674,273 in the last 90 days. 12.99% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.