Compass Financial Services Inc Increases Stock Position in Alphabet Inc. $GOOGL

Key Points

• Compass Financial Services Inc significantly increased its position in Alphabet Inc. by 6,696.7% in the first quarter, owning a total of 2,039 shares valued at $315,000.
• Alphabet reported a strong quarterly earnings performance with $2.31 EPS, exceeding analysts' estimates of $2.15, and generated $96.43 billion in revenue.
• The company announced a quarterly dividend of $0.21, with a yield of 0.3%, to be paid out on September 15th to stockholders of record.

Compass Financial Services Inc grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6,696.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,039 shares of the information services provider's stock after purchasing an additional 2,009 shares during the period. Compass Financial Services Inc's holdings in Alphabet were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC increased its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE increased its holdings in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the last quarter. Forum Financial Management LP increased its holdings in Alphabet by 6.4% during the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock worth $14,985,000 after buying an additional 4,756 shares during the last quarter. Finally, Triumph Capital Management increased its holdings in Alphabet by 1.6% during the fourth quarter. Triumph Capital Management now owns 5,470 shares of the information services provider's stock worth $1,036,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $240.37 on Friday. The company has a 50-day moving average price of $200.66 and a two-hundred day moving average price of $177.03. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $242.25. The firm has a market capitalization of $2.91 trillion, a PE ratio of 25.60, a P/E/G ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last ninety days. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOGL. Royal Bank Of Canada raised their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Citigroup restated an "outperform" rating on shares of Alphabet in a report on Wednesday, September 3rd. Wells Fargo & Company raised their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Barclays raised their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, DA Davidson raised their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

About Alphabet

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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