Focus Partners Advisor Solutions LLC Has $10.70 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Alphabet Inc. by 8.3%, owning 69,198 shares valued at $10.7 million after acquiring an additional 5,310 shares.
• Alphabet's recent quarterly earnings exceeded expectations, reporting $2.31 EPS and revenue of $96.43 billion, surpassing analysts' projections.
• The company announced a quarterly dividend of $0.21, resulting in an annualized yield of 0.4%, with the payout set for September 15th.

Focus Partners Advisor Solutions LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,198 shares of the information services provider's stock after purchasing an additional 5,310 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Alphabet were worth $10,701,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Invesco Ltd. grew its holdings in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG increased its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $4,317,606,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL traded up $19.31 on Wednesday, reaching $230.66. The company had a trading volume of 102,404,162 shares, compared to its average volume of 27,560,906. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.79 trillion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $231.31. The firm's 50 day moving average price is $192.29 and its 200 day moving average price is $174.41.

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, topping 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 firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Oppenheimer restated an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Tuesday. Wells Fargo & Company raised their price objective on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JMP Securities upped their price target on shares of Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Finally, Truist Financial reissued a "buy" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $219.11.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 222,210 shares of company stock valued at $41,742,155. Corporate insiders own 11.55% of the company's stock.

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.