Sharpepoint LLC Sells 1,623 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sharpepoint LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,114 shares of the information services provider’s stock after selling 1,623 shares during the period. Alphabet accounts for about 2.1% of Sharpepoint LLC’s portfolio, making the stock its 14th biggest position. Sharpepoint LLC’s holdings in Alphabet were worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter valued at $24,383,677,000. FMR LLC boosted its holdings 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 valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp boosted its holdings 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 valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings 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 valued at $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,343 shares of company stock worth $31,296,140. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.5%

Shares of GOOGL stock opened at $182.97 on Thursday. The stock has a market cap of $2.22 trillion, a P/E ratio of 20.40, a PEG ratio of 1.28 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $171.67 and its two-hundred day simple moving average is $173.20.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.46%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Roth Capital reaffirmed a “buy” rating and set a $205.00 target price (up from $180.00) on shares of Alphabet in a report on Tuesday, July 8th. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Finally, Needham & Company LLC lifted their target price on Alphabet from $178.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.86.

About Alphabet

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.