80,607 Shares in Alphabet Inc. $GOOGL Acquired by Two Point Capital Management Inc.

Two Point Capital Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,607 shares of the information services provider’s stock, valued at approximately $14,392,000. Alphabet comprises about 6.1% of Two Point Capital Management Inc.’s portfolio, making the stock its 4th largest position.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Phraction Management LLC boosted its stake in Alphabet by 22.3% during the 2nd quarter. Phraction Management LLC now owns 88,505 shares of the information services provider’s stock valued at $15,597,000 after purchasing an additional 16,155 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Alphabet by 7.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 76,355 shares of the information services provider’s stock worth $13,456,000 after purchasing an additional 5,541 shares in the last quarter. Gray Private Wealth LLC purchased a new stake in Alphabet in the 2nd quarter worth about $361,000. Copeland Capital Management LLC purchased a new position in Alphabet during the second quarter valued at approximately $6,838,000. Finally, Seros Financial LLC purchased a new stake in shares of Alphabet during the second quarter worth $232,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOGL shares. JMP Securities upped their price target on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research note on Friday, September 19th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. DA Davidson lifted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Finally, HSBC assumed coverage on shares of Alphabet in a research note on Tuesday. They issued a “buy” rating and a $285.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.88.

Alphabet Stock Down 2.1%

Shares of NASDAQ GOOGL opened at $236.57 on Friday. The firm’s 50-day simple moving average is $226.31 and its 200 day simple moving average is $188.49. The company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. 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 12-month low of $140.53 and a 12-month high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 11.64% of the company’s stock.

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.