Family Wealth Partners LLC Acquires New Stake in Alphabet Inc. $GOOG

Key Points

• Family Wealth Partners LLC has acquired a new stake in Alphabet Inc. during the second quarter, purchasing 1,164 shares valued at approximately $206,000.
• Insiders have sold a total of 258,088 shares of Alphabet stock worth over $52 million in the last 90 days, indicating notable insider trading activity.
• Alphabet recently declared a quarterly dividend of $0.21 per share, leading to an annualized dividend yield of 0.3%.

Family Wealth Partners LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,164 shares of the information services provider's stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Independence Bank of Kentucky raised its position in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. RDA Financial Network raised its position in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Fermata Advisors LLC raised its position in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares in the last quarter. jvl associates llc raised its position in Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares in the last quarter. Finally, Members Trust Co raised its position in Alphabet by 84.7% in the first quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after acquiring an additional 2,292 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 in the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 0.2%

NASDAQ: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 firm has a market capitalization of $3.05 trillion, a P/E ratio of 26.87, a P/E/G ratio of 1.71 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $212.86 and a 200 day simple moving average of $182.73.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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 company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Finally, UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $230.35.

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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