Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Garrison Point Advisors LLC

Garrison Point Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,340 shares of the information services provider’s stock after selling 180 shares during the quarter. Alphabet makes up approximately 1.0% of Garrison Point Advisors LLC’s portfolio, making the stock its 20th largest position. Garrison Point Advisors LLC’s holdings in Alphabet were worth $2,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $27,000. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter worth approximately $25,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 3.2 %

Shares of Alphabet stock opened at $147.74 on Friday. The stock has a market capitalization of $1.80 trillion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 12-month low of $147.54 and a 12-month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $177.04 and a 200 day simple moving average of $178.43.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOG. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.65.

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.