Pointe Capital Management LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Pointe Capital Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,767 shares of the information services provider’s stock after buying an additional 410 shares during the period. Alphabet comprises about 1.0% of Pointe Capital Management LLC’s holdings, making the stock its 21st largest position. Pointe Capital Management LLC’s holdings in Alphabet were worth $1,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cranbrook Wealth Management LLC increased its holdings in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares in the last quarter. Manchester Financial Inc. increased its holdings in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Alphabet by 1.4% in the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 75 shares in the last quarter. Congress Park Capital LLC increased its holdings in shares of Alphabet by 0.3% in the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC increased its holdings in shares of Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOG. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $165.67.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock valued at $40,382,765 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

GOOG stock traded up $0.53 during midday trading on Friday, hitting $168.99. 22,767,056 shares of the company’s stock were exchanged, compared to its average volume of 22,353,938. Alphabet Inc. has a one year low of $104.70 and a one year high of $176.42. The stock’s fifty day moving average price is $151.46 and its 200-day moving average price is $143.74. The company has a market cap of $2.10 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the previous year, the business posted $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

About Alphabet

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.