BluePointe Capital Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

BluePointe Capital Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,312 shares of the information services provider’s stock after buying an additional 579 shares during the quarter. BluePointe Capital Management LLC’s holdings in Alphabet were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter worth $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new position in shares of Alphabet during the 4th quarter valued at $43,000. Finally, FPC Investment Advisory Inc. increased its stake in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.2 %

Shares of NASDAQ:GOOG opened at $166.28 on Thursday. The stock’s 50-day moving average is $185.52 and its 200 day moving average is $178.02. The company has a market cap of $2.03 trillion, a PE ratio of 20.66, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $147.67 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday. Oppenheimer increased their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet 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.