Alphabet Inc (NASDAQ:GOOG) is TrinityPoint Wealth LLC’s 4th Largest Position

TrinityPoint Wealth LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,256 shares of the information services provider’s stock after selling 130 shares during the period. Alphabet comprises about 4.5% of TrinityPoint Wealth LLC’s portfolio, making the stock its 4th largest holding. TrinityPoint Wealth LLC’s holdings in Alphabet were worth $9,393,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp increased its stake in shares of Alphabet by 4.3% in the 2nd quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock valued at $3,688,000 after purchasing an additional 140 shares in the last quarter. Veritas Investment Management LLP boosted its holdings in Alphabet by 2.8% in the 2nd quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock worth $36,853,000 after buying an additional 936 shares during the last quarter. B. Riley Wealth Management Inc. boosted its holdings in Alphabet by 9.0% in the 1st quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock worth $1,150,000 after buying an additional 81 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in Alphabet by 18.8% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock worth $16,125,000 after buying an additional 2,363 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its holdings in Alphabet by 4.2% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock worth $756,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 34.00% of the company’s stock.

GOOG has been the topic of several research analyst reports. Cowen lifted their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 23rd. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. Finally, Wedbush lifted their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,378.93.

GOOG traded down $0.11 during trading hours on Thursday, reaching $1,191.14. The company’s stock had a trading volume of 40,001 shares, compared to its average volume of 1,721,836. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The stock has a market cap of $831.00 billion, a PE ratio of 25.06, a P/E/G ratio of 1.31 and a beta of 0.96. The business’s 50-day moving average is $1,168.86 and its 200-day moving average is $1,155.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the prior year, the firm posted $11.75 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts expect that Alphabet Inc will post 52.1 EPS for the current year.

In other Alphabet news, VP Amie Thuener O’toole sold 69 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $1,100.52, for a total value of $75,935.88. Following the sale, the vice president now owns 388 shares of the company’s stock, valued at $427,001.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 75 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total value of $92,892.75. Following the completion of the sale, the director now directly owns 276 shares in the company, valued at approximately $341,845.32. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock worth $2,553,758 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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