1,734 Shares in Alphabet Inc. $GOOGL Bought by Turning Point Benefit Group Inc.

Turning Point Benefit Group Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,734 shares of the information services provider’s stock, valued at approximately $306,000.

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 222,442 shares of company stock valued at $51,200,307. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Barclays reaffirmed an “overweight” rating and issued a $315.00 target price (up previously from $250.00) on shares of Alphabet in a research report on Thursday. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Guggenheim raised their target price on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group raised their target price on Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Price Performance

GOOGL opened at $283.72 on Tuesday. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $245.50 and a 200 day moving average price of $201.24.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during 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%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

About Alphabet

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.