1,251 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Cedar Point Capital Partners LLC

Cedar Point Capital Partners LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,251 shares of the information services provider’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Trust Co. of Oklahoma lifted its position in Alphabet by 3.6% during the fourth quarter. Trust Co. of Oklahoma now owns 39,793 shares of the information services provider’s stock valued at $7,533,000 after buying an additional 1,386 shares in the last quarter. Market Street Wealth Management Advisors LLC lifted its position in Alphabet by 10.7% during the fourth quarter. Market Street Wealth Management Advisors LLC now owns 4,226 shares of the information services provider’s stock valued at $800,000 after buying an additional 408 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC lifted its position in shares of Alphabet by 2.2% during the fourth quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,288 shares of the information services provider’s stock worth $1,948,000 after purchasing an additional 225 shares in the last quarter. Whalen Wealth Management Inc. lifted its position in shares of Alphabet by 72.3% during the fourth quarter. Whalen Wealth Management Inc. now owns 2,388 shares of the information services provider’s stock worth $452,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $360,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL opened at $195.30 on Wednesday. The firm has a 50-day moving average price of $186.79 and a 200 day moving average price of $173.61. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald reduced their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Check Out Our Latest Report on Alphabet

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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