Financial Advisory Corp Takes $428,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Financial Advisory Corp acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,260 shares of the information services provider's stock, valued at approximately $428,000. Alphabet comprises about 0.1% of Financial Advisory Corp's holdings, making the stock its 27th largest holding.

Several other institutional investors also recently modified their holdings of the business. Compass Planning Associates Inc bought a new position in shares of Alphabet in the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp boosted its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new position in Alphabet during the 4th quarter valued at $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on GOOGL shares. Roth Mkm reissued a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Citigroup boosted their price target on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Up 2.6%

NASDAQ:GOOGL traded up $4.43 during midday trading on Tuesday, reaching $172.90. The company had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.34 and a beta of 1.01. The stock's fifty day simple moving average is $158.67 and its 200-day simple moving average is $174.76. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director now directly owns 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,654 shares of company stock worth $26,793,380. Company insiders own 11.64% of the company's stock.

About Alphabet

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.