Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,485 shares of the information services provider’s stock after selling 145 shares during the quarter. Alphabet accounts for approximately 0.8% of SignalPoint Asset Management LLC’s holdings, making the stock its 23rd biggest position. SignalPoint Asset Management LLC’s holdings in Alphabet were worth $3,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth $30,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter worth $41,000. Finally, Quarry LP acquired a new stake in Alphabet in the second quarter valued at $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $165.46 on Wednesday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The stock has a 50-day moving average price of $161.63 and a 200 day moving average price of $168.07. 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 market capitalization of $2.04 trillion, a P/E ratio of 25.38, a P/E/G ratio of 1.21 and a beta of 1.04.

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

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.13.

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.