FRG Family Wealth Advisors LLC Sells 1,445 Shares of Alphabet Inc. $GOOGL

Key Points

• FRG Family Wealth Advisors LLC sold 1,445 shares of Alphabet Inc., reducing its holdings by 1.4% to 98,275 shares, which are now valued at $15.2 million.
• Alphabet recently reported earnings of $2.31 per share, exceeding analysts' expectations, with a net revenue of $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21, set to be paid on September 15th, reflecting an annualized yield of 0.4% and a payout ratio of 8.95%.

FRG Family Wealth Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,275 shares of the information services provider's stock after selling 1,445 shares during the period. Alphabet comprises 2.9% of FRG Family Wealth Advisors LLC's holdings, making the stock its 8th largest position. FRG Family Wealth Advisors LLC's holdings in Alphabet were worth $15,197,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOGL opened at $212.91 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $214.65. 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 company has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. The stock's fifty day moving average is $190.44 and its two-hundred day moving average is $174.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 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 issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $47,225,230 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Piper Sandler lifted their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JMP Securities lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

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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