Spirepoint Private Client LLC Purchases 631 Shares of Alphabet Inc. $GOOGL

Spirepoint Private Client LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,294 shares of the information services provider’s stock after purchasing an additional 631 shares during the period. Alphabet comprises 1.7% of Spirepoint Private Client LLC’s holdings, making the stock its 11th largest position. Spirepoint Private Client LLC’s holdings in Alphabet were worth $15,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Independent Wealth Network Inc. increased its holdings in Alphabet by 21.9% during the 2nd quarter. Independent Wealth Network Inc. now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 498 shares in the last quarter. Ascent Capital Management LLC increased its holdings in Alphabet by 8.0% during the 2nd quarter. Ascent Capital Management LLC now owns 4,274 shares of the information services provider’s stock worth $753,000 after purchasing an additional 318 shares in the last quarter. TRU Independence Asset Management 2 LLC increased its holdings in Alphabet by 246.9% during the 2nd quarter. TRU Independence Asset Management 2 LLC now owns 19,606 shares of the information services provider’s stock worth $3,455,000 after purchasing an additional 13,954 shares in the last quarter. ORG Wealth Partners LLC increased its holdings in Alphabet by 12.4% during the 2nd quarter. ORG Wealth Partners LLC now owns 6,089 shares of the information services provider’s stock worth $1,071,000 after purchasing an additional 670 shares in the last quarter. Finally, Brown Lisle Cummings Inc. increased its holdings in Alphabet by 2.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 52,406 shares of the information services provider’s stock worth $9,236,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.3%

Shares of NASDAQ:GOOGL opened at $245.69 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a 50-day simple moving average of $220.21 and a 200 day simple moving average of $185.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BNP Paribas Exane reiterated a “neutral” rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Piper Sandler increased their price objective on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Robert W. Baird increased their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Loop Capital restated a “hold” rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $240.76.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.64% 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.