Centerpoint Advisors LLC Sells 5,220 Shares of Alphabet Inc. (NASDAQ:GOOG)

Centerpoint Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 28,896 shares of the information services provider’s stock after selling 5,220 shares during the quarter. Alphabet accounts for 1.7% of Centerpoint Advisors LLC’s holdings, making the stock its 12th biggest position. Centerpoint Advisors LLC’s holdings in Alphabet were worth $4,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. LSV Asset Management purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,219 shares of company stock valued at $49,674,273. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $204.16 on Wednesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.47 trillion, a P/E ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a fifty day moving average of $183.25 and a 200-day moving average of $174.55.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOG shares. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank lifted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. Pivotal Research lifted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

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.