Alphabet Inc. $GOOGL Shares Purchased by CFM Wealth Partners LLC

CFM Wealth Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,409 shares of the information services provider's stock after purchasing an additional 1,735 shares during the period. Alphabet accounts for approximately 3.8% of CFM Wealth Partners LLC's portfolio, making the stock its 5th largest position. CFM Wealth Partners LLC's holdings in Alphabet were worth $23,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 244,438 shares of company stock valued at $53,216,085. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 2.3%

NASDAQ GOOGL opened at $251.03 on Thursday. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.73, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The firm has a 50-day moving average price of $229.41 and a 200 day moving average price of $190.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. HSBC began coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a "buy" rating and a $285.00 price objective for the company. Mizuho set a $295.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Monday, September 29th. Moffett Nathanson upped their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Guggenheim upped their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $288.00 price objective on shares of Alphabet in a research note on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.26.

Alphabet Company 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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