Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,441 shares of the information services provider’s stock after selling 4,344 shares during the quarter. Alphabet accounts for about 2.1% of Tritonpoint Wealth LLC’s investment portfolio, making the stock its 8th largest holding. Tritonpoint Wealth LLC’s holdings in Alphabet were worth $22,097,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Principia Wealth Advisory LLC raised its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Alphabet during the 4th quarter worth about $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the 4th quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. KeyCorp cut their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price objective on shares of Alphabet 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 assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Price Performance

Shares of GOOG stock opened at $175.88 on Friday. The stock’s fifty day simple moving average is $164.57 and its 200 day simple moving average is $176.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by insiders.

Alphabet Company 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.