Viewpoint Investment Partners Corp Purchases 7,045 Shares of Alphabet Inc. $GOOGL

Viewpoint Investment Partners Corp increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 165.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,296 shares of the information services provider's stock after buying an additional 7,045 shares during the quarter. Alphabet accounts for approximately 1.1% of Viewpoint Investment Partners Corp's holdings, making the stock its 19th biggest holding. Viewpoint Investment Partners Corp's holdings in Alphabet were worth $1,991,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Missouri Trust & Investment Co increased its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC increased its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after buying an additional 57 shares during the period. Bfsg LLC boosted its holdings in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth boosted its holdings in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Powers Advisory Group LLC boosted its holdings in Alphabet by 1.8% in the second quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider's stock valued at $628,000 after acquiring an additional 62 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Cantor Fitzgerald reiterated a "neutral" rating and issued a $201.00 price target on shares of Alphabet in a report on Wednesday, September 24th. Wedbush lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Susquehanna lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. JMP Securities lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday, September 19th. Finally, Piper Sandler lifted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $242.98.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $244.62 on Thursday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The business has a 50-day simple moving average of $224.37 and a two-hundred day simple moving average of $187.53. 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 has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

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.

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