Ninepoint Partners LP trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 257 shares of the information services provider’s stock after selling 8 shares during the quarter. Ninepoint Partners LP’s holdings in Alphabet were worth $378,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC acquired a new position in shares of Alphabet during the 2nd quarter worth $38,000. Campbell Wealth Management acquired a new position in shares of Alphabet during the 2nd quarter worth $41,000. Prestige Wealth Management Group LLC raised its holdings in shares of Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares in the last quarter. Islay Capital Management LLC raised its holdings in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after buying an additional 10 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock worth $61,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 32.42% of the company’s stock.
In related news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the sale, the director now owns 517 shares in the company, valued at approximately $795,295.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 22 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the sale, the director now owns 1,134 shares in the company, valued at approximately $1,683,162.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142 shares of company stock worth $213,357. 12.99% of the stock is owned by corporate insiders.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. As a group, analysts forecast that Alphabet Inc will post 44.84 earnings per share for the current fiscal year.
A number of research firms have recently commented on GOOG. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Pivotal Research boosted their price target on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday, July 31st. KeyCorp started coverage on Alphabet in a report on Monday, September 14th. They set an “overweight” rating for the company. Oppenheimer upped their target price on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Mizuho upped their target price on Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,703.33.
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.
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