Stablepoint Partners LLC Has $1.79 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

14 Oct 2024, 20:32 by Doug Wharley · The Cerbat Gem

Stablepoint Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,708 shares of the information services provider’s stock after selling 223 shares during the period. Stablepoint Partners LLC’s holdings in Alphabet were worth $1,790,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $40,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth approximately $44,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock traded up $2.24 during mid-day trading on Monday, reaching $166.76. The company’s stock had a trading volume of 1,005,947 shares, compared to its average volume of 19,698,570. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm’s fifty day moving average price is $162.81 and its two-hundred day moving average price is $169.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.37, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. UBS Group reduced their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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