Stone Point Wealth LLC Sells 135 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stone Point Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,226 shares of the information services provider’s stock after selling 135 shares during the quarter. Stone Point Wealth LLC’s holdings in Alphabet were worth $535,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew its position in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Capital World Investors grew its stake in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOGL. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 4.6 %

Shares of GOOGL stock opened at $167.83 on Friday. The stock has a market cap of $2.05 trillion, a P/E ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $167.50 and its two-hundred day simple moving average is $170.38.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

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.