Farrow Financial Inc. Makes New $2.07 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Farrow Financial Inc. has made a new investment of approximately $2.07 million in Alphabet Inc. (NASDAQ: GOOGL), acquiring 13,387 shares during the first quarter.
• Insider transactions reported include Director Kavitark Ram Shriram and CEO Sundar Pichai each selling significant shares, indicating a decrease in their ownership positions.
• Alphabet's stock price is currently at $203.34, with analysts setting a consensus price target of $211.53 and labeling it as a "Moderate Buy."

Farrow Financial Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,387 shares of the information services provider's stock, valued at approximately $2,070,000.

Several other large investors have also modified their holdings of the stock. Costello Asset Management INC boosted its holdings in Alphabet by 116.7% during the first quarter. Costello Asset Management INC now owns 67,122 shares of the information services provider's stock worth $10,380,000 after buying an additional 36,151 shares in the last quarter. Aquire Wealth Advisors LLC raised its holdings in shares of Alphabet by 3.6% during the 1st quarter. Aquire Wealth Advisors LLC now owns 2,181 shares of the information services provider's stock valued at $337,000 after purchasing an additional 75 shares in the last quarter. Horizon Family Wealth Inc. raised its holdings in shares of Alphabet by 6.6% during the 1st quarter. Horizon Family Wealth Inc. now owns 6,001 shares of the information services provider's stock valued at $928,000 after purchasing an additional 374 shares in the last quarter. Cary Street Partners Financial LLC raised its holdings in Alphabet by 2.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 159,869 shares of the information services provider's stock worth $24,722,000 after acquiring an additional 3,127 shares during the period. Finally, Advyzon Investment Management LLC raised its holdings in Alphabet by 63.4% in the 1st quarter. Advyzon Investment Management LLC now owns 5,861 shares of the information services provider's stock worth $906,000 after acquiring an additional 2,274 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wedbush boosted their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Loop Capital reiterated a "hold" rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Finally, Needham & Company LLC increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $1.28 during trading on Thursday, reaching $203.24. The stock had a trading volume of 19,473,324 shares, compared to its average volume of 36,646,953. The business has a fifty day moving average price of $182.95 and a 200-day moving average price of $173.22. 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 cap of $2.46 trillion, a PE ratio of 21.63, a PEG ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results 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 $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 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. Insiders have sold 274,219 shares of company stock worth $49,674,273 in the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet 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.