NovaPoint Capital LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

NovaPoint Capital LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,439 shares of the information services provider’s stock after selling 740 shares during the quarter. NovaPoint Capital LLC’s holdings in Alphabet were worth $2,229,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $166.72 on Tuesday. The firm has a 50-day simple moving average of $161.95 and a two-hundred day simple moving average of $168.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. The stock has a market cap of $2.06 trillion, a PE ratio of 25.57, a P/E/G ratio of 1.27 and a beta of 1.04.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOGL shares. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Roth Mkm restated a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets lowered their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Seven equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

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.