NovaPoint Capital LLC Has $2.38 Million Holdings in Alphabet Inc. $GOOGL

NovaPoint Capital LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,508 shares of the information services provider’s stock after purchasing an additional 72 shares during the period. NovaPoint Capital LLC’s holdings in Alphabet were worth $2,380,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Cove Private Wealth LLC lifted its position in shares of Alphabet by 43.9% in the second quarter. Cove Private Wealth LLC now owns 44,394 shares of the information services provider’s stock worth $7,824,000 after buying an additional 13,535 shares during the last quarter. Patton Fund Management Inc. acquired a new position in shares of Alphabet during the 2nd quarter valued at about $239,000. Kathmere Capital Management LLC raised its stake in shares of Alphabet by 16.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 12,230 shares of the information services provider’s stock valued at $2,155,000 after acquiring an additional 1,724 shares in the last quarter. Investment Partners Asset Management Inc. lifted its holdings in Alphabet by 4.0% in the 2nd quarter. Investment Partners Asset Management Inc. now owns 18,234 shares of the information services provider’s stock worth $3,213,000 after purchasing an additional 700 shares during the last quarter. Finally, Destiny Wealth Partners LLC boosted its position in Alphabet by 44.1% during the second quarter. Destiny Wealth Partners LLC now owns 56,323 shares of the information services provider’s stock worth $9,926,000 after purchasing an additional 17,250 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,469 shares of company stock worth $46,586,752. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Roth Capital lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Guggenheim upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.63.

Alphabet Stock Down 0.4%

GOOGL stock opened at $243.10 on Wednesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.94 trillion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.01. The business’s 50-day simple moving average is $218.05 and its 200 day simple moving average is $184.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.