Alphabet Inc. $GOOG Shares Bought by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Alphabet Inc. by 14.9% during the 2nd quarter, owning 34,853 shares valued at approximately $6.18 million.
• The company recently announced a quarterly dividend of $0.21 per share, marking a 0.3% yield and continuing its positive financial trend after reporting a 13.8% increase in revenue year-over-year.
• Equities analysts have recently raised their price targets on Alphabet, with JPMorgan Chase increasing its target from $232.00 to $260.00 and Robert W. Baird raising its target from $215.00 to $275.00, indicating strong market confidence.

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,853 shares of the information services provider's stock after purchasing an additional 4,516 shares during the period. Alphabet makes up approximately 0.7% of Patriot Financial Group Insurance Agency LLC's portfolio, making the stock its 24th biggest holding. Patriot Financial Group Insurance Agency LLC's holdings in Alphabet were worth $6,183,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principia Wealth Advisory LLC boosted its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $26,000. Robbins Farley boosted its stake 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 acquiring an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company's stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOG opened at $246.45 on Friday. The company has a 50 day simple moving average of $221.89 and a 200-day simple moving average of $187.15. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Robert W. Baird raised their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Morgan Stanley raised their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.33.

Alphabet Profile

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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