Sunpointe LLC Purchases 349 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sunpointe LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 4th quarter, Holdings Channel reports. The fund owned 16,456 shares of the information services provider’s stock after buying an additional 349 shares during the quarter. Alphabet accounts for approximately 1.6% of Sunpointe LLC’s holdings, making the stock its 16th largest position. Sunpointe LLC’s holdings in Alphabet were worth $3,115,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at about $39,000. PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Finally, Denver PWM LLC boosted its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Morgan Stanley decreased their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Bank of America reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Price Performance

Shares of GOOGL stock opened at $170.92 on Wednesday. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $189.52 and a two-hundred day simple moving average of $176.41. The stock has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,316 shares of company stock worth $25,062,887. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.