Two Point Capital Management Inc. Has $15.97 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Two Point Capital Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,255 shares of the information services provider’s stock after purchasing an additional 725 shares during the quarter. Alphabet makes up about 5.8% of Two Point Capital Management Inc.’s holdings, making the stock its 4th largest position. Two Point Capital Management Inc.’s holdings in Alphabet were worth $15,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Christopher J. Hasenberg Inc increased its holdings 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 acquiring an additional 60 shares during the period. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at $41,000. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet in the second quarter worth about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $178.12 on Wednesday. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50 day moving average price of $166.74 and a 200 day moving average price of $170.36. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the company posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock worth $30,698,791 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOOGL shares. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler restated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Guggenheim boosted their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.