HighPoint Advisor Group LLC Has $24.31 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

HighPoint Advisor Group LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,758 shares of the information services provider’s stock after selling 1,055 shares during the period. Alphabet accounts for about 1.4% of HighPoint Advisor Group LLC’s portfolio, making the stock its 12th biggest holding. HighPoint Advisor Group LLC’s holdings in Alphabet were worth $24,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors grew its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp grew its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $192.58 on Tuesday. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 20.51, a P/E/G ratio of 1.31 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $176.29 and its two-hundred day simple moving average is $172.79. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Needham & Company LLC raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Rosenblatt Securities increased their price target on Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.32.

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.