Focused Wealth Management Inc Acquires 3,602 Shares of Alphabet Inc. $GOOGL

Key Points

• Focused Wealth Management Inc increased its stake in Alphabet Inc. by 9.1%, acquiring an additional 3,602 shares, bringing its total holdings to 43,068 shares.
• Alphabet recently reported strong financial results, with a quarterly EPS of $2.31, exceeding analysts' estimates, and revenue of $96.43 billion, surpassing projections.
• A quarterly dividend of $0.21 was recently declared by Alphabet, representing an annualized yield of 0.3% and a dividend payout ratio of 8.95%.

Focused Wealth Management Inc boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,068 shares of the information services provider's stock after acquiring an additional 3,602 shares during the quarter. Alphabet accounts for approximately 0.9% of Focused Wealth Management Inc's investment portfolio, making the stock its 21st biggest holding. Focused Wealth Management Inc's holdings in Alphabet were worth $7,590,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $39,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $245.79 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The business has a fifty day moving average price of $214.70 and a 200-day moving average price of $182.46. 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 market capitalization of $2.97 trillion, a P/E ratio of 26.18, a PEG ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last three months. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. KeyCorp increased their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Rosenblatt Securities increased their price objective on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Citigroup raised their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Stifel Nicolaus raised their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $232.90.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.