Single Point Partners LLC Buys 17 Shares of Alphabet Inc (NASDAQ:GOOG)

Share on StockTwits

Single Point Partners LLC lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 852 shares of the information services provider’s stock after purchasing an additional 17 shares during the period. Alphabet accounts for about 0.7% of Single Point Partners LLC’s portfolio, making the stock its 24th largest position. Single Point Partners LLC’s holdings in Alphabet were worth $1,204,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Campbell Wealth Management bought a new stake in shares of Alphabet in the second quarter worth about $41,000. Prestige Wealth Management Group LLC increased its holdings in shares of Alphabet by 1,700.0% in the first quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares in the last quarter. Cordasco Financial Network increased its holdings in shares of Alphabet by 32.1% in the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after acquiring an additional 9 shares in the last quarter. New England Investment & Retirement Group Inc. bought a new stake in shares of Alphabet in the first quarter worth about $44,000. Finally, Paragon Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth about $47,000. Institutional investors own 32.91% of the company’s stock.

In other news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total value of $45,388.48. Following the completion of the sale, the director now directly owns 1,119 shares of the company’s stock, valued at $1,587,178.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares of the company’s stock, valued at $807,257.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212 shares of company stock valued at $303,047. Insiders own 12.99% of the company’s stock.

Several brokerages have issued reports on GOOG. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a report on Friday. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Friday. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Deutsche Bank increased their price objective on Alphabet from $1,700.00 to $1,975.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,671.00.

GOOG stock traded down $48.49 during mid-day trading on Friday, reaching $1,482.96. The company had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a 50 day simple moving average of $1,474.19 and a two-hundred day simple moving average of $1,377.20. The company has a market capitalization of $1,012.30 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.34 and a beta of 1.05. Alphabet Inc has a 52 week low of $1,013.54 and a 52 week high of $1,586.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. On average, equities analysts predict that Alphabet Inc will post 42.07 EPS for the current year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: Derivative

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.