Financial Strategies Group Inc. Boosts Position in Alphabet Inc. $GOOG

Key Points

• Financial Strategies Group Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.4%, owning a total of 58,409 shares worth approximately $9.27 million.
• Alphabet's recent earnings report showed a significant beat on earnings per share at $2.31, exceeding estimates, and a 13.8% revenue increase year-over-year to $96.43 billion.
• The firm announced a quarterly dividend of $0.21 per share, equating to an annualized yield of only 0.4%, reflecting a low payout ratio of 8.95%.

Financial Strategies Group Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,409 shares of the information services provider's stock after buying an additional 6,880 shares during the quarter. Alphabet comprises approximately 2.2% of Financial Strategies Group Inc.'s investment portfolio, making the stock its 12th largest holding. Financial Strategies Group Inc.'s holdings in Alphabet were worth $9,268,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. JDM Financial Group LLC grew its position in Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after purchasing an additional 57 shares during the period. NCM Capital Management LLC grew its position in Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after purchasing an additional 60 shares during the period. Objectivity Squared LLC grew its position in Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after purchasing an additional 62 shares during the period. Tranquility Partners LLC grew its position in Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after purchasing an additional 63 shares during the period. Finally, Stonebridge Financial Group LLC grew its position in Alphabet by 0.6% in the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock valued at $1,664,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $0.38 during mid-day trading on Wednesday, reaching $239.56. 19,960,392 shares of the company's stock were exchanged, compared to its average volume of 24,010,580. The firm has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $242.08. 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 firm has a 50-day moving average price of $199.04 and a two-hundred day moving average price of $177.55.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the business posted $1.89 EPS. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank lifted their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group lifted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $227.56.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is currently owned by insiders.

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.