Tritonpoint Wealth LLC Sells 3,534 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tritonpoint Wealth LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 156,773 shares of the information services provider’s stock after selling 3,534 shares during the period. Alphabet makes up about 2.7% of Tritonpoint Wealth LLC’s holdings, making the stock its 5th largest holding. Tritonpoint Wealth LLC’s holdings in Alphabet were worth $29,677,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Price Performance

Shares of GOOGL stock opened at $186.47 on Tuesday. The firm has a fifty day simple moving average of $191.61 and a 200-day simple moving average of $174.63. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.28 trillion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is currently owned by corporate 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.