Sunpointe LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Sunpointe LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,227 shares of the information services provider’s stock after buying an additional 226 shares during the period. Alphabet makes up about 2.6% of Sunpointe LLC’s portfolio, making the stock its 9th biggest holding. Sunpointe LLC’s holdings in Alphabet were worth $2,298,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. M. Kraus & Co raised its holdings in Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares in the last quarter. Wynn Capital LLC raised its stake in Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after acquiring an additional 67 shares in the last quarter. Aire Advisors LLC lifted its position in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its stake in Alphabet by 2.1% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after acquiring an additional 68 shares in the last quarter. Finally, Defined Wealth Management LLC grew its holdings in shares of Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Canaccord Genuity Group upped their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Susquehanna raised their target price on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Wedbush upped their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley reissued an “overweight” rating and set a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Finally, UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.69.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.41 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05. The business has a fifty day moving average of $171.70 and a 200-day moving average of $153.58.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold a total of 146,284 shares of company stock valued at $24,534,393 in the last quarter. 11.55% of the stock is currently owned by company insiders.

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.