Focus Partners Advisor Solutions LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 75.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,019 shares of the information services provider's stock after buying an additional 37,735 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Alphabet were worth $13,751,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Buying and Selling
In other news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,210 shares of company stock worth $41,742,155. 12.99% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on GOOG shares. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $227.56.
Check Out Our Latest Report on GOOG
Alphabet Stock Up 0.7%
Shares of GOOG stock traded up $1.60 on Thursday, reaching $232.70. 24,054,970 shares of the stock were exchanged, compared to its average volume of 23,975,922. The company has a market capitalization of $2.81 trillion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.44 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $232.61. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's 50 day moving average price is $194.34 and its 200 day moving average price is $176.23.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
Alphabet Profile
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Free Report)
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.
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