Sunpointe LLC Has $2.40 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Sunpointe LLC has increased its position in Alphabet Inc. by 9.6%, bringing its total holdings to 13,638 shares valued at approximately $2.40 million.
• Alphabet's stock has seen mixed ratings from analysts, with 32 analysts rating it as a Buy and a consensus price target of $224.51.
• The company recently announced a $0.21 quarterly dividend, providing a yield of 0.3%, reflecting a low payout ratio of 8.95%.

Sunpointe LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,638 shares of the information services provider's stock after buying an additional 1,199 shares during the period. Alphabet makes up about 1.0% of Sunpointe LLC's holdings, making the stock its 24th biggest position. Sunpointe LLC's holdings in Alphabet were worth $2,403,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. KeyCorp boosted their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Truist Financial raised their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research report on Monday. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.31.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $2.19 during trading hours on Monday, hitting $252.53. 32,240,768 shares of the company's stock were exchanged, compared to its average volume of 38,953,800. The company's 50-day moving average price is $210.78 and its 200-day moving average price is $180.96. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,088 shares of company stock worth $52,405,304. 11.55% of the stock is currently owned by 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.