Breakwater Investment Management Sells 84 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Breakwater Investment Management decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,187 shares of the information services provider’s stock after selling 84 shares during the period. Breakwater Investment Management’s holdings in Alphabet were worth $647,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $173.32 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market cap of $2.10 trillion, a P/E ratio of 19.32, a P/E/G ratio of 1.12 and a beta of 1.01. The business has a fifty day simple moving average of $164.17 and a 200 day simple moving average of $174.73.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Stifel Nicolaus decreased their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley decreased their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. BMO Capital Markets reissued an “outperform” rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, Piper Sandler boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 in the last ninety days. 11.64% of the stock is owned by insiders.

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.