Graypoint LLC Purchases 4,680 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Graypoint LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,875 shares of the information services provider’s stock after acquiring an additional 4,680 shares during the period. Alphabet accounts for approximately 0.8% of Graypoint LLC’s holdings, making the stock its 26th largest position. Graypoint LLC’s holdings in Alphabet were worth $11,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted its stake in 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 during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at about $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings 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. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $154.69 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.91 trillion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.13 and a beta of 1.04. The company’s fifty day moving average is $168.12 and its 200 day moving average is $164.36.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating 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 in the prior year, the firm posted $1.44 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a research report on Tuesday, August 6th. Piper Sandler dropped their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Tigress Financial raised their price objective on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,367 shares of company stock valued at $30,016,931. 11.55% of the stock is currently owned by insiders.

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.