Ninepoint Partners LP Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Ninepoint Partners LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,423 shares of the information services provider’s stock after acquiring an additional 514 shares during the period. Ninepoint Partners LP’s holdings in Alphabet were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Capital International Investors lifted its stake in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its holdings in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $165.29 on Friday. The firm has a 50 day moving average of $164.34 and a two-hundred day moving average of $167.77. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The disclosure for this sale can be found here. Insiders have sold a total of 203,367 shares of company stock valued at $34,079,756 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOOG shares. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $179.29.

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.