waypoint wealth counsel Raises Stake in Alphabet Inc. $GOOG

waypoint wealth counsel raised its position in Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,556 shares of the information services provider’s stock after acquiring an additional 482 shares during the quarter. waypoint wealth counsel’s holdings in Alphabet were worth $1,340,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,838 shares of company stock worth $53,070,333. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $246.19 on Wednesday. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company’s fifty day moving average is $228.96 and its two-hundred day moving average is $191.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

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.