Single Point Partners LLC Sells 880 Shares of Alphabet Inc. (NASDAQ:GOOG)

Single Point Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,645 shares of the information services provider’s stock after selling 880 shares during the period. Single Point Partners LLC’s holdings in Alphabet were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at $27,000. Weiss Asset Management LP bought a new stake in Alphabet in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. lifted its stake in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Compass Financial Services Inc bought a new stake in shares of Alphabet in the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.5 %

Shares of GOOG opened at $186.87 on Friday. The business’s 50 day moving average is $194.16 and its 200 day moving average is $176.54. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a market capitalization of $2.29 trillion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released 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 net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price objective on Alphabet from $220.00 to $235.00 and gave the stock 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. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.