Focused Wealth Management Inc Acquires 5,345 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Focused Wealth Management Inc increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,466 shares of the information services provider's stock after acquiring an additional 5,345 shares during the period. Alphabet comprises 0.8% of Focused Wealth Management Inc's holdings, making the stock its 22nd largest position. Focused Wealth Management Inc's holdings in Alphabet were worth $6,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after buying an additional 7,574,417 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 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 ninety days, insiders have sold 215,843 shares of company stock worth $37,288,490. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Friday, June 27th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Mizuho dropped their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Bank of America increased their price objective on shares of Alphabet from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Friday. Finally, Susquehanna dropped their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $201.68.

Alphabet Stock Performance

Alphabet stock traded up $1.48 during trading hours on Friday, hitting $185.06. The company had a trading volume of 33,864,714 shares, compared to its average volume of 32,179,845. The firm has a 50-day moving average of $172.90 and a 200 day moving average of $173.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $2.25 trillion, a PE ratio of 20.63, a PEG ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.45%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.

Alphabet 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.