waypoint wealth counsel Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

waypoint wealth counsel lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,074 shares of the information services provider’s stock after selling 310 shares during the quarter. waypoint wealth counsel’s holdings in Alphabet were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berkshire Money Management Inc. boosted its stake in shares of Alphabet by 8.5% during the first quarter. Berkshire Money Management Inc. now owns 1,910 shares of the information services provider’s stock valued at $298,000 after purchasing an additional 149 shares during the period. Mattern Capital Management LLC boosted its stake in shares of Alphabet by 7.1% during the first quarter. Mattern Capital Management LLC now owns 5,950 shares of the information services provider’s stock valued at $930,000 after purchasing an additional 392 shares during the period. Riverbend Wealth Management LLC boosted its stake in shares of Alphabet by 5.5% during the first quarter. Riverbend Wealth Management LLC now owns 3,972 shares of the information services provider’s stock valued at $621,000 after purchasing an additional 208 shares during the period. Golden State Equity Partners boosted its stake in shares of Alphabet by 2.6% during the first quarter. Golden State Equity Partners now owns 5,045 shares of the information services provider’s stock valued at $788,000 after purchasing an additional 130 shares during the period. Finally, Balance Wealth LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $536,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.49 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 19.12, a P/E/G ratio of 1.18 and a beta of 1.01. The business has a fifty day simple moving average of $166.90 and a two-hundred day simple moving average of $176.24. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOG shares. Susquehanna reissued a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased 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. Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet 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 of the company’s stock, 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. Insiders sold a total of 216,306 shares of company stock valued at $35,782,927 in the last quarter. 12.99% of the stock is 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.