Financial Advisory Corp Makes New $428,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Financial Advisory Corp acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,260 shares of the information services provider's stock, valued at approximately $428,000. Alphabet makes up approximately 0.1% of Financial Advisory Corp's holdings, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $3,119,000. Optivise Advisory Services LLC grew its holdings in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the period. Community Bank N.A. lifted its position in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd lifted its position in Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC lifted its position in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Down 0.4%

Shares of GOOGL traded down $0.78 during midday trading on Thursday, hitting $171.59. The stock had a trading volume of 18,095,165 shares, compared to its average volume of 35,473,469. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.08 trillion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock's 50 day moving average is $159.04 and its 200 day moving average is $174.73.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,654 shares of company stock valued at $26,793,380. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOGL shares. Truist Financial dropped their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

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.