Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 139.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,367 shares of the information services provider’s stock after acquiring an additional 2,543 shares during the period. Cardinal Point Capital Management ULC’s holdings in Alphabet were worth $724,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BlueChip Wealth Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $341,000. Accent Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $6,951,000. Warren Street Wealth Advisors LLC lifted its stake in Alphabet by 5.8% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 7,380 shares of the information services provider’s stock valued at $1,031,000 after buying an additional 402 shares in the last quarter. Grayhawk Investment Strategies Inc. grew its holdings in Alphabet by 94.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 1,090 shares of the information services provider’s stock valued at $152,000 after buying an additional 530 shares during the last quarter. Finally, Napatree Capital LLC purchased a new position in Alphabet during the fourth quarter worth $467,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.3 %

NASDAQ GOOGL opened at $165.46 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a 50-day simple moving average of $161.63 and a 200-day simple moving average of $168.07. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the company earned $1.44 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,926 shares of company stock valued at $32,251,590. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America raised their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Truist Financial reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.13.

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.