Spirepoint Private Client LLC Has $15.38 Million Stock Position in Alphabet Inc. $GOOGL

Spirepoint Private Client LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,294 shares of the information services provider’s stock after acquiring an additional 631 shares during the quarter. Alphabet makes up approximately 1.7% of Spirepoint Private Client LLC’s holdings, making the stock its 11th largest holding. Spirepoint Private Client LLC’s holdings in Alphabet were worth $15,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Missouri Trust & Investment Co boosted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC boosted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC boosted its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth lifted its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after buying an additional 62 shares in the last quarter. Finally, Park Capital Management LLC WI lifted its holdings in Alphabet by 1.1% during the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock worth $1,058,000 after buying an additional 65 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. KeyCorp upped their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Wells Fargo & Company upped their price objective on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Piper Sandler upped their price objective on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Susquehanna upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

Alphabet Stock Performance

Shares of Alphabet stock opened at $245.69 on Friday. The firm has a fifty day moving average of $220.21 and a two-hundred day moving average of $185.22. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

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.