Alphabet Inc. (NASDAQ:GOOG) is Tritonpoint Wealth LLC’s 6th Largest Position

Tritonpoint Wealth LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,785 shares of the information services provider’s stock after purchasing an additional 2,730 shares during the quarter. Alphabet accounts for approximately 2.5% of Tritonpoint Wealth LLC’s portfolio, making the stock its 6th largest holding. Tritonpoint Wealth LLC’s holdings in Alphabet were worth $27,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after purchasing an additional 1,630,701 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 6.9 %

Alphabet stock opened at $193.30 on Thursday. The firm has a 50-day moving average price of $191.88 and a two-hundred day moving average price of $175.91. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. 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 $131.55 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

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.