Towerpoint Wealth LLC Has $602,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Towerpoint Wealth LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,183 shares of the information services provider’s stock after selling 657 shares during the quarter. Towerpoint Wealth LLC’s holdings in Alphabet were worth $602,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Lantz Financial LLC grew its stake in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC bought a new position in Alphabet in the second quarter valued at $218,000. Howard Capital Management Inc. grew its position in Alphabet by 1.1% in the second quarter. Howard Capital Management Inc. now owns 36,035 shares of the information services provider’s stock valued at $6,564,000 after purchasing an additional 384 shares in the last quarter. Opes Wealth Management LLC lifted its position in Alphabet by 1.4% during the 2nd quarter. Opes Wealth Management LLC now owns 7,501 shares of the information services provider’s stock worth $1,366,000 after buying an additional 107 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC boosted its stake in shares of Alphabet by 48.2% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 13,220 shares of the information services provider’s stock worth $2,414,000 after buying an additional 4,300 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.15.

Read Our Latest Stock Report on GOOGL

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $196.00 on Friday. The company has a market cap of $2.40 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. 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 stock has a fifty day moving average price of $184.43 and a 200-day moving average price of $173.42.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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