BluePointe Capital Management LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

BluePointe Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,841 shares of the information services provider's stock after buying an additional 3,058 shares during the quarter. BluePointe Capital Management LLC's holdings in Alphabet were worth $1,367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the 4th quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets upped their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday. Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler raised their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $210.79.

Alphabet Stock Up 1.9%

Shares of NASDAQ GOOGL traded up $3.70 during mid-day trading on Thursday, hitting $193.93. The company had a trading volume of 56,671,075 shares, compared to its average volume of 36,920,125. The company has a market capitalization of $2.35 trillion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business's 50-day simple moving average is $174.67 and its 200 day simple moving average is $173.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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.