Alphabet Inc. (NASDAQ:GOOG) Position Lowered by Centerpoint Advisors LLC

Centerpoint Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,116 shares of the information services provider’s stock after selling 75 shares during the period. Alphabet makes up 2.3% of Centerpoint Advisors LLC’s portfolio, making the stock its 10th biggest position. Centerpoint Advisors LLC’s holdings in Alphabet were worth $6,497,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOG. Arlington Trust Co LLC lifted its holdings in shares of Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares during the period. Harrell Investment Partners LLC lifted its holdings in shares of Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 53 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the period. Tempus Wealth Planning LLC lifted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after buying an additional 55 shares during the period. Finally, Investment Advisory Group LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after purchasing an additional 56 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,299 shares of company stock worth $25,055,751. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Trading Down 2.7 %

Shares of Alphabet stock opened at $181.58 on Friday. The firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.35 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. 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 stock has a 50 day moving average of $194.02 and a 200 day moving average of $177.22.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s payout ratio is 9.94%.

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.