BluePointe Capital Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

BluePointe Capital Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 12.2% during the 4th quarter, HoldingsChannel reports. The firm owned 5,312 shares of the information services provider’s stock after purchasing an additional 579 shares during the period. BluePointe Capital Management LLC’s holdings in Alphabet were worth $1,012,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC raised its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 1,041 shares during the period. North Forty Two & Co. bought a new position in Alphabet in the 4th quarter worth $281,000. Coldstream Capital Management Inc. raised its holdings in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Requisite Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at $927,000. Finally, Stevens Capital Management LP grew its holdings in Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.2 %

Shares of GOOG opened at $166.28 on Thursday. Alphabet Inc. has a twelve month low of $147.67 and a twelve month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $185.52 and its 200-day simple moving average is $178.02. The company has a market cap of $2.03 trillion, a P/E ratio of 20.66, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOG. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank increased 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last quarter. 12.99% of the stock is owned by insiders.

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.