Alphabet Inc. $GOOG Stock Position Decreased by Centerpoint Advisory Group

Centerpoint Advisory Group trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 5,729 shares of the information services provider’s stock after selling 490 shares during the period. Centerpoint Advisory Group’s holdings in Alphabet were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brooktree Capital Management purchased a new stake in shares of Alphabet during the second quarter valued at $355,000. Able Wealth Management LLC lifted its stake in Alphabet by 15.4% during the second quarter. Able Wealth Management LLC now owns 3,207 shares of the information services provider’s stock valued at $569,000 after buying an additional 428 shares in the last quarter. Trivest Advisors Ltd acquired a new position in shares of Alphabet in the second quarter worth about $70,406,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of Alphabet by 3.9% in the second quarter. Resona Asset Management Co. Ltd. now owns 1,702,711 shares of the information services provider’s stock worth $302,276,000 after buying an additional 63,927 shares during the period. Finally, Atlantic Union Bankshares Corp increased its position in shares of Alphabet by 264.1% in the second quarter. Atlantic Union Bankshares Corp now owns 269,976 shares of the information services provider’s stock worth $47,891,000 after acquiring an additional 195,836 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 189,896 shares of company stock worth $44,892,175 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2%

NASDAQ GOOG opened at $285.34 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The firm’s fifty day simple moving average is $250.48 and its 200-day simple moving average is $204.23. The company has a market capitalization of $3.45 trillion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOG shares. Wolfe Research upped their price target on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Friday, October 24th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Oppenheimer increased their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Company Profile

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