Stablepoint Partners LLC Purchases 293 Shares of Alphabet Inc. $GOOG

Stablepoint Partners LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,395 shares of the information services provider’s stock after buying an additional 293 shares during the quarter. Stablepoint Partners LLC’s holdings in Alphabet were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in GOOG. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Elios Financial Group Inc. boosted its stake in shares of Alphabet by 7.1% in the 1st quarter. Elios Financial Group Inc. now owns 1,501 shares of the information services provider’s stock valued at $234,000 after purchasing an additional 100 shares during the last quarter. Invictus Private Wealth LLC increased its position in shares of Alphabet by 1.2% during the first quarter. Invictus Private Wealth LLC now owns 185,530 shares of the information services provider’s stock worth $28,985,000 after buying an additional 2,180 shares during the period. Nicolet Advisory Services LLC raised its stake in Alphabet by 8.3% during the first quarter. Nicolet Advisory Services LLC now owns 21,969 shares of the information services provider’s stock worth $3,413,000 after buying an additional 1,680 shares during the last quarter. Finally, Howland Capital Management LLC lifted its holdings in Alphabet by 15.9% in the first quarter. Howland Capital Management LLC now owns 43,752 shares of the information services provider’s stock valued at $6,835,000 after buying an additional 6,015 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.1%

Alphabet stock opened at $319.95 on Friday. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s fifty day moving average price is $269.82 and its two-hundred day moving average price is $219.56. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $304.62.

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.