TrinityPoint Wealth LLC Has $9.71 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

TrinityPoint Wealth LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,267 shares of the information services provider’s stock after selling 6,098 shares during the quarter. Alphabet accounts for approximately 1.4% of TrinityPoint Wealth LLC’s investment portfolio, making the stock its 10th largest position. TrinityPoint Wealth LLC’s holdings in Alphabet were worth $9,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bennett Selby Investments LP raised its position in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares during the last quarter. Macroview Investment Management LLC raised its position in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after buying an additional 52 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after buying an additional 53 shares during the last quarter. Addison Advisors LLC raised its position in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors raised its position in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after buying an additional 54 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. BMO Capital Markets restated an “outperform” rating and set a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Roth Mkm reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $166.19 on Friday. The company has a market cap of $2.02 trillion, a P/E ratio of 20.64, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The business has a fifty day simple moving average of $158.21 and a 200-day simple moving average of $175.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.