FCG Investment Co Purchases 1,177 Shares of Alphabet Inc. $GOOGL

Key Points

• FCG Investment Co increased its stake in Alphabet Inc. by 3.3%, owning a total of 37,212 shares valued at approximately $6.56 million by the end of the last quarter.
• Insider trading has seen significant activity, with Director Kavitark Ram Shriram selling 18,566 shares for about $3.45 million, reducing their ownership by 7.09%.
• Alphabet's stock has a market cap of $2.94 trillion, with analysts giving it a "Moderate Buy" rating and an average target price of $235.63.

FCG Investment Co boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,212 shares of the information services provider's stock after purchasing an additional 1,177 shares during the quarter. Alphabet comprises 3.4% of FCG Investment Co's holdings, making the stock its 7th biggest position. FCG Investment Co's holdings in Alphabet were worth $6,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% during the 4th 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 in the last quarter. Rhumbline Advisers lifted its stake in shares of Alphabet by 0.8% in the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock worth $1,742,444,000 after acquiring an additional 86,670 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Alphabet by 16.7% in the first quarter. Merit Financial Group LLC now owns 206,512 shares of the information services provider's stock valued at $31,935,000 after acquiring an additional 29,508 shares in the last quarter. Finally, Swisher Financial Concepts Inc. increased its stake in shares of Alphabet by 11.3% during the first quarter. Swisher Financial Concepts Inc. now owns 6,297 shares of the information services provider's stock valued at $974,000 after acquiring an additional 640 shares during the period. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,469 shares of company stock valued at $46,586,752 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $243.10 on Wednesday. The firm has a market cap of $2.94 trillion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.65 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 stock's 50-day moving average is $218.05 and its two-hundred day moving average is $184.24. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOGL shares. Citigroup upped their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. Canaccord Genuity Group increased their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group upped their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $235.63.

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.

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