Bfsg LLC Acquires 1,085 Shares of Alphabet Inc. $GOOG

Key Points

• Bfsg LLC increased its holdings in Alphabet Inc. by 2.1% during the 2nd quarter, acquiring an additional 1,085 shares, bringing its total ownership to 53,427 shares.
• Insider transactions at Alphabet included significant sales by CAO Amie Thuener O'toole and CEO Sundar Pichai, who sold 2,778 shares and 32,500 shares respectively, indicating a decrease in their positions.
• Alphabet recently announced a quarterly dividend of $0.21 per share, yielding 0.3%, with an ex-dividend date of September 8th.

Bfsg LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,427 shares of the information services provider's stock after acquiring an additional 1,085 shares during the quarter. Alphabet makes up about 1.1% of Bfsg LLC's portfolio, making the stock its 19th biggest holding. Bfsg LLC's holdings in Alphabet were worth $9,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC lifted its holdings in 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 purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Price Performance

Shares of GOOG opened at $252.34 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The business has a 50-day simple moving average of $212.86 and a two-hundred day simple moving average of $182.73. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.05 trillion, a PE ratio of 26.87, a PEG ratio of 1.71 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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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