Alphabet Inc. $GOOG is Pacific Point Advisors LLC’s 9th Largest Position

Pacific Point Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,677 shares of the information services provider’s stock after purchasing an additional 504 shares during the period. Alphabet accounts for about 1.6% of Pacific Point Advisors LLC’s holdings, making the stock its 9th biggest position. Pacific Point Advisors LLC’s holdings in Alphabet were worth $2,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ACT Advisors LLC. boosted its stake in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management boosted its position in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates boosted its position in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC grew its stake in Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC increased its position in Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock worth $389,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Pivotal Research upped their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $246.43 on Friday. 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 Inc. has a one year low of $142.66 and a one year high of $256.70. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.24, a PEG ratio of 1.66 and a beta of 1.00. The company’s fifty day moving average is $220.84 and its two-hundred day moving average is $186.43.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is owned by corporate insiders.

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.