Great Point Wealth Advisors LLC Makes New $1.71 Million Investment in Alphabet Inc. $GOOG

Great Point Wealth Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,032 shares of the information services provider’s stock, valued at approximately $1,713,000.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its position in Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of Alphabet by 2.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 157,143 shares of the information services provider’s stock worth $38,272,000 after purchasing an additional 3,444 shares during the last quarter. American National Bank of Texas bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $900,000. Northwestern Mutual Wealth Management Co. raised its stake 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 in the last quarter. Finally, Tower View Wealth Management LLC boosted its holdings in shares of Alphabet by 6.9% in the 2nd 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.

Alphabet Stock Performance

NASDAQ GOOG opened at $330.84 on Friday. The stock has a market cap of $3.99 trillion, a PE ratio of 32.63, a P/E/G ratio of 1.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50-day moving average of $315.30 and a 200-day moving average of $259.15. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $341.20.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GOOG shares. Royal Bank Of Canada restated an “outperform” rating and set a $375.00 target price on shares of Alphabet in a report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $370.00 price objective on shares of Alphabet in a research note on Tuesday. Canaccord Genuity Group upped their target price on shares of Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $326.13.

Read Our Latest Stock Analysis on GOOG

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,829 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the sale, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares in the company, valued at $2,798,832.60. The trade was a 23.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 192,687 shares of company stock worth $58,728,068 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Featured Articles

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.