Alphabet Inc. $GOOGL is Frisch Financial Group Inc.'s 8th Largest Position

Key Points

• Frisch Financial Group Inc. has increased its stake in Alphabet Inc. by 1.9%, making it the firm's 8th largest position, valued at approximately $13.3 million.
• Wall Street analysts are optimistic about Alphabet's future, with several firms raising their price targets; the current consensus rating stands at "Moderate Buy" with an average target price of $211.53.
• Alphabet plans to pay a quarterly dividend of $0.21 on September 15, indicating a modest annual yield of 0.4% as the company maintains a low payout ratio of 8.95%.

Frisch Financial Group Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,244 shares of the information services provider's stock after purchasing an additional 1,622 shares during the quarter. Alphabet makes up about 3.7% of Frisch Financial Group Inc.'s portfolio, making the stock its 8th largest holding. Frisch Financial Group Inc.'s holdings in Alphabet were worth $13,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its stake in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Falcon Wealth Planning boosted its stake in shares of Alphabet by 15.7% in the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after purchasing an additional 1,340 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. Roth Capital raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley raised their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, BMO Capital Markets raised their price objective on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Stock Performance

GOOGL stock traded up $2.40 during mid-day trading on Monday, hitting $208.49. The company had a trading volume of 29,895,767 shares, compared to its average volume of 31,370,868. The firm has a market cap of $2.52 trillion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $210.52. The stock's fifty day moving average price is $187.44 and its two-hundred day moving average price is $173.28.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,719 shares of company stock worth $47,223,172. Insiders own 11.55% of the company's stock.

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.