Cardinal Point Capital Management ULC Buys 2,543 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cardinal Point Capital Management ULC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 139.4% during the third quarter, HoldingsChannel.com reports. The fund owned 4,367 shares of the information services provider’s stock after acquiring an additional 2,543 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Alphabet were worth $724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the second 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 last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter valued at approximately $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth about $30,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s 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 sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,926 shares of company stock worth $32,251,590 over the last three months. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $165.46 on Wednesday. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day simple moving average of $161.63 and a 200 day simple moving average of $168.07. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Evercore ISI reduced their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Mizuho increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.13.

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.