Alphabet Inc. $GOOG Shares Sold by Centerpoint Advisory Group

Centerpoint Advisory Group decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,729 shares of the information services provider’s stock after selling 490 shares during the quarter. Centerpoint Advisory Group’s holdings in Alphabet were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Smart Money Group LLC grew its position in shares of Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after buying an additional 432 shares during the last quarter. Leavell Investment Management Inc. raised its stake in Alphabet by 4.0% during the first quarter. Leavell Investment Management Inc. now owns 98,777 shares of the information services provider’s stock worth $15,432,000 after acquiring an additional 3,757 shares during the period. Forza Wealth Management LLC lifted its holdings in Alphabet by 2.0% in the first quarter. Forza Wealth Management LLC now owns 3,519 shares of the information services provider’s stock worth $550,000 after acquiring an additional 70 shares during the last quarter. Finally, Peddock Capital Advisors LLC boosted its stake in Alphabet by 1.1% in the first quarter. Peddock Capital Advisors LLC now owns 6,133 shares of the information services provider’s stock valued at $958,000 after acquiring an additional 66 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG stock opened at $285.34 on Friday. The company has a 50-day simple moving average of $250.48 and a 200 day simple moving average of $204.23. The company has a market capitalization of $3.45 trillion, a P/E ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

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

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 189,896 shares of company stock worth $44,892,175. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GOOG shares. Barclays raised their price target on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday, October 30th. Scotiabank set a $336.00 price objective on shares of Alphabet and gave the stock a “sector outperform” rating in a report on Thursday, October 30th. Finally, TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.