Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Trust Point Inc.

Trust Point Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,803 shares of the information services provider's stock after selling 6,588 shares during the period. Trust Point Inc.'s holdings in Alphabet were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Financial Planning Inc. increased its holdings in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after purchasing an additional 50 shares in the last quarter. Ethos Financial Group LLC raised its position in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares during the last quarter. Hutchinson Capital Management CA lifted its stake in Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC boosted its holdings in Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after acquiring an additional 56 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after acquiring an additional 56 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock valued at $32,003,532. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG traded down $3.25 during trading hours on Thursday, hitting $173.98. 32,365,363 shares of the company's stock traded hands, compared to its average volume of 20,579,241. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The business's fifty day moving average price is $165.77 and its two-hundred day moving average price is $176.42. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 19.40, a P/E/G ratio of 1.25 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOG shares. UBS Group dropped their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $204.88.

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.