FCG Investment Co Acquires 5,666 Shares of Alphabet Inc. $GOOGL

Key Points

• FCG Investment Co increased its holdings in Alphabet Inc. by 18.7% during Q1, owning a total of 36,035 shares valued at approximately $5.57 million.
• Insiders, including Director John L. Hennessy and CEO Sundar Pichai, sold significant amounts of Alphabet shares, with total sales over the last 90 days reaching $47.2 million.
• The company announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.4%, payable on September 15th.

FCG Investment Co raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,035 shares of the information services provider's stock after purchasing an additional 5,666 shares during the quarter. Alphabet accounts for approximately 3.5% of FCG Investment Co's investment portfolio, making the stock its 5th biggest position. FCG Investment Co's holdings in Alphabet were worth $5,572,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mystic Asset Management Inc. boosted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Falcon Wealth Planning boosted its holdings in shares of Alphabet by 15.7% in the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after purchasing an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial reiterated a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Sanford C. Bernstein increased their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Stock Performance

Shares of Alphabet stock opened at $199.75 on Friday. 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 $207.05. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 1.34 and a beta of 1.01. The company's fifty day moving average is $186.18 and its 200 day moving average is $173.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 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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