VisionPoint Advisory Group LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

VisionPoint Advisory Group LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,891 shares of the information services provider’s stock after selling 217 shares during the period. Alphabet accounts for about 2.6% of VisionPoint Advisory Group LLC’s investment portfolio, making the stock its 12th biggest holding. VisionPoint Advisory Group LLC’s holdings in Alphabet were worth $5,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. OLD Second National Bank of Aurora lifted its position 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 valued at $25,000 after acquiring an additional 247 shares during the period. Westchester Capital Management Inc. lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the period. Carolina Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Saban Cheryl lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 190 shares during the period. Finally, NewSquare Capital LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $96.55 on Thursday. The firm has a 50 day moving average of $95.12 and a 200 day moving average of $96.84. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,745 shares of company stock worth $3,424,078. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. UBS Group set a $120.00 price target on shares of Alphabet in a research report on Monday, February 6th. Oppenheimer lifted their target price on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Cowen decreased their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Societe Generale decreased their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Finally, JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.