Financial Enhancement Group LLC Makes New $210,000 Investment in Alphabet Inc. $GOOGL

Key Points

• Financial Enhancement Group LLC has made a new investment in Alphabet Inc., purchasing 1,166 shares valued at approximately $210,000.
• Various institutional investors, including Mystic Asset Management and Bridgeway Capital Management, have recently increased their stakes in Alphabet, reflecting a growing confidence in the company.
• Alphabet's stock currently holds an average rating of "Moderate Buy" among analysts, with a consensus target price of $231.31.

Financial Enhancement Group LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,166 shares of the information services provider's stock, valued at approximately $210,000.

A number of other large investors also recently bought and sold shares of GOOGL. Mystic Asset Management Inc. lifted 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 worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted 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 worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC lifted 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 worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $201.00 target price on shares of Alphabet in a research report on Wednesday. Wedbush raised their target price on Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Finally, DA Davidson raised their target price on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $231.31.

Alphabet Stock Down 1.8%

Shares of GOOGL stock opened at $247.14 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The stock has a market cap of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The business's fifty day moving average is $213.46 and its 200-day moving average is $181.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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 (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is owned by insiders.

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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