Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 82.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,968 shares of the information services provider’s stock after selling 109,211 shares during the period. Alphabet accounts for about 1.2% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 14th biggest position. Point72 Asia Singapore Pte. Ltd.’s holdings in Alphabet were worth $4,374,000 as of its most recent filing with the Securities & Exchange Commission.

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

Alphabet Price Performance

Shares of GOOG opened at $166.81 on Thursday. 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 firm has a market cap of $2.02 trillion, a PE ratio of 20.72, a PEG ratio of 1.34 and a beta of 1.01. The firm’s 50 day moving average price is $160.21 and its 200 day moving average price is $176.79. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.