Single Point Partners LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Single Point Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,588 shares of the information services provider’s stock after purchasing an additional 752 shares during the quarter. Single Point Partners LLC’s holdings in Alphabet were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors raised its stake in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after purchasing an additional 58 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last three months. Insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Truist Financial dropped their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Stock Performance

Shares of GOOGL opened at $173.68 on Monday. The company has a market capitalization of $2.11 trillion, a PE ratio of 21.58, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company’s 50 day moving average price is $160.14 and its 200 day moving average price is $174.38. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

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.