SwitchPoint Financial Planning LLC Invests $251,000 in Alphabet Inc. $GOOGL

SwitchPoint Financial Planning LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,423 shares of the information services provider’s stock, valued at approximately $251,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. raised its position in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,396 shares of company stock valued at $54,105,275 over the last three months. 11.64% of the stock is owned by insiders.

Alphabet Trading Down 2.1%

Shares of NASDAQ GOOGL opened at $278.83 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a fifty day simple moving average of $251.23 and a 200-day simple moving average of $204.56.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI boosted their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Barclays reiterated an “overweight” rating and set a $315.00 price target (up from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Susquehanna boosted their price objective on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

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.