Stablepoint Partners LLC Sells 931 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stablepoint Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,745 shares of the information services provider’s stock after selling 931 shares during the quarter. Stablepoint Partners LLC’s holdings in Alphabet were worth $5,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at about $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Monday. Evercore ISI lowered their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $30,139,931 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $159.32 on Wednesday. The company has a fifty day moving average price of $166.25 and a 200-day moving average price of $165.17. The company has a market capitalization of $1.97 trillion, a P/E ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.