Brant Point Investment Management LLC Grows Stake in Alphabet Inc. $GOOG

Brant Point Investment Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 48.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,629 shares of the information services provider’s stock after purchasing an additional 8,689 shares during the period. Brant Point Investment Management LLC’s holdings in Alphabet were worth $4,724,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GOOG. RDA Financial Network grew its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Alphabet by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock worth $206,542,000 after purchasing an additional 42,028 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the second quarter worth $213,000. Finally, Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the transaction, the director directly owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares in the company, valued at approximately $3,721,580. This represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 228,906 shares of company stock worth $62,127,158 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.2%

Shares of NASDAQ GOOG opened at $322.09 on Monday. The business has a 50-day moving average price of $276.73 and a 200 day moving average price of $225.67. The stock has a market cap of $3.89 trillion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOG. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $310.54.

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.