Patriot Financial Group Insurance Agency LLC Has $7.03 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Alphabet Inc. by 17.2%, holding 39,863 shares valued at approximately $7.03 million, making it the firm's 21st largest position.
• CEO Sundar Pichai sold 32,500 shares at an average price of $184.38, reducing his total holdings by 1.27% to over $466 million in value.
• Alphabet reported $2.31 EPS for the last quarter, surpassing analysts' expectations, with a revenue of $96.43 billion, compared to an estimate of $93.60 billion.

Patriot Financial Group Insurance Agency LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,863 shares of the information services provider's stock after purchasing an additional 5,860 shares during the period. Alphabet comprises about 0.8% of Patriot Financial Group Insurance Agency LLC's investment portfolio, making the stock its 21st largest position. Patriot Financial Group Insurance Agency LLC's holdings in Alphabet were worth $7,025,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Nuveen LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Finally, Amundi increased its holdings in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last 90 days. Insiders own 11.64% of the company's stock.

Alphabet Trading Down 1.3%

NASDAQ:GOOGL opened at $241.53 on Friday. The firm has a market cap of $2.92 trillion, a P/E ratio of 25.72, a P/E/G ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm's fifty day moving average is $225.37 and its 200-day moving average is $188.04. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Hsbc Global Res raised Alphabet to a "strong-buy" rating in a report on Tuesday. Finally, Piper Sandler boosted their price target on Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $244.62.

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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