Elevation Point Wealth Partners LLC Acquires 1,600 Shares of Alphabet Inc. $GOOG

Elevation Point Wealth Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,354 shares of the information services provider’s stock after buying an additional 1,600 shares during the period. Alphabet comprises approximately 1.0% of Elevation Point Wealth Partners LLC’s portfolio, making the stock its 15th largest position. Elevation Point Wealth Partners LLC’s holdings in Alphabet were worth $13,367,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Alphabet by 41.8% in the first quarter. Fiera Capital Corp now owns 26,935 shares of the information services provider’s stock worth $4,208,000 after purchasing an additional 7,934 shares during the last quarter. FSA Advisors Inc. increased its stake in shares of Alphabet by 13.8% in the first quarter. FSA Advisors Inc. now owns 1,453 shares of the information services provider’s stock worth $227,000 after buying an additional 176 shares during the period. Orca Wealth Management LLC raised its holdings in Alphabet by 4.9% during the 1st quarter. Orca Wealth Management LLC now owns 10,316 shares of the information services provider’s stock valued at $1,612,000 after buying an additional 485 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its position in Alphabet by 2.8% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 590,871 shares of the information services provider’s stock valued at $92,313,000 after buying an additional 15,862 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $320.28 on Thursday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The stock’s 50 day simple moving average is $267.17 and its two-hundred day simple moving average is $217.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. BNP Paribas started coverage on shares of Alphabet in a research report on Monday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Mizuho set a $325.00 target price on Alphabet in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $304.62.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is currently owned by company insiders.

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.