North Point Portfolio Managers Corp OH Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

North Point Portfolio Managers Corp OH acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,200 shares of the information services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Partnership Wealth Management LLC acquired a new position in Alphabet in the 4th quarter valued at about $26,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the 2nd quarter valued at about $37,000. Richardson Financial Services Inc. acquired a new position in Alphabet in the 4th quarter valued at about $34,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $34,000. Finally, Hoese & Co LLP grew its position in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

Shares of GOOG opened at $165.11 on Friday. The stock has a 50 day moving average price of $175.40 and a 200 day moving average price of $165.01. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,065 shares of company stock worth $31,025,543. 12.99% of the stock is 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.