Alphabet Inc. $GOOG Shares Purchased by Spirepoint Private Client LLC

Spirepoint Private Client LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,472 shares of the information services provider’s stock after purchasing an additional 60 shares during the period. Spirepoint Private Client LLC’s holdings in Alphabet were worth $3,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GOOG. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC raised its position in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after purchasing an additional 1,899 shares during the last quarter. Investors Research Corp raised its position in shares of Alphabet by 252.2% during the 1st quarter. Investors Research Corp now owns 2,863 shares of the information services provider’s stock worth $447,000 after purchasing an additional 2,050 shares during the last quarter. Ables Iannone Moore & Associates Inc. raised its holdings in Alphabet by 1.6% in the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 15,019 shares of the information services provider’s stock valued at $2,346,000 after acquiring an additional 236 shares during the last quarter. Finally, Cerro Pacific Wealth Advisors LLC raised its holdings in Alphabet by 2.1% in the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 5,542 shares of the information services provider’s stock valued at $866,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GOOG. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank increased their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.35.

Alphabet Stock Performance

NASDAQ:GOOG opened at $247.18 on Monday. 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 stock has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a PEG ratio of 1.67 and a beta of 1.01. The company has a 50 day moving average price of $216.61 and a 200 day moving average price of $184.53. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 257,866 shares of company stock worth $52,363,610. 12.99% of the stock is currently owned by insiders.

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.