Two Point Capital Management Inc. Invests $14.39 Million in Alphabet Inc. $GOOGL

Key Points

• Two Point Capital Management Inc. invested approximately $14.39 million in Alphabet Inc. during the second quarter, acquiring 80,607 shares, which represent about 6.1% of its portfolio.
• Alphabet's recent earnings report showed an EPS of $2.31, beating estimates, with a revenue of $96.43 billion for the quarter.
• Insider sales included John Kent Walker selling 23,820 shares for over $4.6 million, reflecting a significant decrease in his ownership stake in the company.

Two Point Capital Management Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 80,607 shares of the information services provider's stock, valued at approximately $14,392,000. Alphabet comprises approximately 6.1% of Two Point Capital Management Inc.'s portfolio, making the stock its 4th largest position.

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. lifted its position in 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 buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC grew its holdings 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 valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $236.57 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market capitalization of $2.86 trillion, a PE ratio of 25.19, a P/E/G ratio of 1.63 and a beta of 1.00. The stock's 50 day moving average is $226.31 and its two-hundred day moving average is $188.49.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent analyst reports. Guggenheim boosted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Truist Financial raised their target price on Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, Citizens Jmp increased their target price on Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $245.88.

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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