Carr Financial Group Corp Buys 1,484 Shares of Alphabet Inc. $GOOG

Key Points

• Carr Financial Group Corp increased its holdings in Alphabet Inc. by 19.6%, acquiring an additional 1,484 shares, which brings their total to 9,063 shares valued at $1,608,000.
• In recent insider trading, Director Kavitark Ram Shriram sold 18,566 shares and John Kent Walker sold 23,820 shares, indicating a shift in insider positions with both experiencing notable decreases in their stakes.
• Alphabet reported better-than-expected earnings for the quarter, with an EPS of $2.31 surpassing analyst estimates of $2.12, and revenue reaching $96.43 billion compared to a consensus of $93.67 billion.

Carr Financial Group Corp raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,063 shares of the information services provider's stock after purchasing an additional 1,484 shares during the quarter. Carr Financial Group Corp's holdings in Alphabet were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GOOG. Principia Wealth Advisory LLC lifted its holdings in shares of 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 acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GOOG shares. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Robert W. Baird lifted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday. UBS Group lifted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

Alphabet Price Performance

GOOG opened at $246.57 on Friday. The company's 50-day simple moving average is $215.38 and its two-hundred day simple moving average is $183.72. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 26.26, a P/E/G ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $96.43 billion for 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 firm's revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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