waypoint wealth counsel Has $1.35 Million Stake in Alphabet Inc. $GOOGL

waypoint wealth counsel lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,668 shares of the information services provider’s stock after buying an additional 905 shares during the period. waypoint wealth counsel’s holdings in Alphabet were worth $1,351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.4%

Shares of GOOGL stock opened at $250.46 on Wednesday. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $257.33. The company has a market capitalization of $3.03 trillion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The business’s fifty day moving average is $233.60 and its 200 day moving average is $193.31.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on 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 owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. Tigress Financial increased their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Mizuho set a $295.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Needham & Company LLC lifted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Moffett Nathanson upped their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $280.00 price objective (up from $210.00) on shares of Alphabet in a report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $257.60.

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.