Single Point Partners LLC Has $1.20 Million Stock Holdings in Alphabet Inc (NASDAQ:GOOG)

Single Point Partners LLC grew its holdings in Alphabet Inc (NASDAQ:GOOG) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 852 shares of the information services provider’s stock after acquiring an additional 17 shares during the quarter. Alphabet comprises about 0.7% of Single Point Partners LLC’s holdings, making the stock its 24th largest position. Single Point Partners LLC’s holdings in Alphabet were worth $1,204,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOG. Chelsea Counsel Co. raised its stake in Alphabet by 6.4% during the 1st quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock worth $5,534,000 after buying an additional 285 shares during the period. Adams Asset Advisors LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $1,484,000. Telemus Capital LLC increased its holdings in Alphabet by 2.6% during the 2nd quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock worth $12,193,000 after purchasing an additional 198 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Alphabet by 314.1% during the 1st quarter. Mackenzie Financial Corp now owns 39,509 shares of the information services provider’s stock worth $45,941,000 after purchasing an additional 29,967 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Alphabet by 34.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 65,569 shares of the information services provider’s stock worth $76,244,000 after purchasing an additional 16,640 shares in the last quarter. 32.91% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GOOG traded down $48.49 during trading on Friday, hitting $1,482.96. 3,429,036 shares of the company were exchanged, compared to its average volume of 1,408,813. The company has a market cap of $1,012.30 billion, a PE ratio of 32.61, a P/E/G ratio of 2.34 and a beta of 1.05. The stock has a 50 day moving average of $1,474.19 and a 200 day moving average of $1,377.20. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,586.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. Sell-side analysts forecast that Alphabet Inc will post 42.07 EPS for the current fiscal year.

In related news, Director Ann Mather sold 32 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total value of $45,388.48. Following the sale, the director now owns 1,119 shares in the company, valued at $1,587,178.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1,495.85, for a total value of $89,751.00. Following the completion of the sale, the director now owns 664 shares in the company, valued at approximately $993,244.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212 shares of company stock worth $303,047. Company insiders own 12.99% of the company’s stock.

A number of brokerages have commented on GOOG. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Friday. Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Barclays upped their target price on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,671.00.

Alphabet 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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