Stone Point Wealth LLC Has $526,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Stone Point Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,764 shares of the information services provider’s stock after selling 316 shares during the period. Stone Point Wealth LLC’s holdings in Alphabet were worth $526,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet during the 4th quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the 3rd quarter valued at approximately $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Finally, Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,839 shares of company stock valued at $32,835,757. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Down 0.3 %

NASDAQ GOOGL opened at $154.40 on Wednesday. The stock has a fifty day moving average of $145.76 and a 200-day moving average of $140.19. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOOGL shares. Redburn Atlantic increased their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Roth Mkm decreased their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. KeyCorp increased their target price on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Truist Financial reduced their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $156.64.

Alphabet 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.