North Point Portfolio Managers Corp OH Acquires Shares of 1,200 Alphabet Inc. $GOOG

Key Points

• North Point Portfolio Managers Corp OH acquired a new stake of 1,200 shares of Alphabet Inc. (NASDAQ:GOOG), valued at approximately $213,000.
• Several institutional investors have recently modified their holdings of GOOG, with notable increases in ownership by firms like Brighton Jones LLC and Revisor Wealth Management LLC.
• Brokerages have recently upgraded their ratings on Alphabet, with target prices increasing from $210.00 to as high as $285.00, signaling positive market sentiment surrounding the stock.

North Point Portfolio Managers Corp OH acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,200 shares of the information services provider's stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC boosted its holdings in Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after buying an additional 1,899 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Alphabet by 19.5% in the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock worth $14,323,000 after buying an additional 14,931 shares during the last quarter. Embree Financial Group boosted its holdings in Alphabet by 6.2% in the 1st quarter. Embree Financial Group now owns 16,007 shares of the information services provider's stock worth $2,501,000 after buying an additional 935 shares during the last quarter. Finally, Petros Family Wealth LLC boosted its holdings in Alphabet by 4.5% in the 1st quarter. Petros Family Wealth LLC now owns 14,678 shares of the information services provider's stock worth $2,293,000 after buying an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Hsbc Global Res upgraded Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. TD Cowen boosted their target price on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $246.26.

Alphabet Stock Up 0.5%

GOOG stock opened at $252.53 on Thursday. The firm has a market cap of $3.05 trillion, a PE ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm's 50 day moving average price is $235.22 and its 200-day moving average price is $194.81. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company's stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.

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