Sunpointe LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sunpointe LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,764 shares of the information services provider’s stock after selling 963 shares during the period. Alphabet makes up approximately 1.1% of Sunpointe LLC’s portfolio, making the stock its 18th biggest holding. Sunpointe LLC’s holdings in Alphabet were worth $1,298,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GOOG. Safeguard Financial LLC boosted its holdings in Alphabet by 3.7% during the third quarter. Safeguard Financial LLC now owns 4,152 shares of the information services provider’s stock worth $694,000 after buying an additional 148 shares in the last quarter. Tsfg LLC boosted its stake in shares of Alphabet by 1.5% during the 3rd quarter. Tsfg LLC now owns 15,883 shares of the information services provider’s stock worth $2,656,000 after acquiring an additional 233 shares in the last quarter. Nexus Investment Management ULC grew its position in shares of Alphabet by 0.9% during the 3rd quarter. Nexus Investment Management ULC now owns 210,543 shares of the information services provider’s stock valued at $35,201,000 after acquiring an additional 1,880 shares during the period. Roberts Wealth Advisors LLC increased its stake in shares of Alphabet by 1.3% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 83,244 shares of the information services provider’s stock valued at $13,794,000 after purchasing an additional 1,069 shares in the last quarter. Finally, Piscataqua Savings Bank raised its holdings in Alphabet by 3.4% in the 3rd quarter. Piscataqua Savings Bank now owns 3,983 shares of the information services provider’s stock worth $666,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group reduced their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOG opened at $166.74 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $163.17 and a 200 day moving average of $169.55. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a market cap of $2.06 trillion, a PE ratio of 25.57, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.