SignalPoint Asset Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

SignalPoint Asset Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,708.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,214 shares of the information services provider’s stock after acquiring an additional 25,709 shares during the period. Alphabet comprises approximately 1.0% of SignalPoint Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. SignalPoint Asset Management LLC’s holdings in Alphabet were worth $2,616,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OLD Second National Bank of Aurora grew its holdings in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. NewSquare Capital LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 304 shares in the last quarter. Schubert & Co increased its holdings in Alphabet by 1,192.9% during the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after buying an additional 334 shares during the period. Finally, Corsicana & Co. raised its stake in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. Jefferies Financial Group set a $125.00 target price on Alphabet in a research report on Monday, January 9th. Oppenheimer cut their target price on Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Cowen decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. Finally, Credit Suisse Group set a $128.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.56.

Alphabet Trading Up 2.3 %

Alphabet stock opened at $93.91 on Friday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $152.10. The company has a market capitalization of $1.22 trillion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock has a 50-day moving average price of $93.47 and a 200 day moving average price of $102.22.

Alphabet (NASDAQ:GOOGGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same period last year, the firm earned $1.40 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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