Alphabet Inc. (NASDAQ:GOOGL) is Sunpointe LLC’s 10th Largest Position

Sunpointe LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,107 shares of the information services provider’s stock after purchasing an additional 331 shares during the period. Alphabet makes up about 2.2% of Sunpointe LLC’s portfolio, making the stock its 10th biggest holding. Sunpointe LLC’s holdings in Alphabet were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Capital Research Global Investors grew its position in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Bank of New York Mellon Corp grew its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. Capital World Investors grew its position in Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the period. Finally, American Century Companies Inc. grew its position in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $162.72 on Friday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $168.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the company posted $1.44 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOGL shares. Evercore ISI cut their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. The Goldman Sachs Group dropped their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company dropped their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler restated an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Finally, Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Company 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.