Thoroughbred Financial Services LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Thoroughbred Financial Services LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,986 shares of the information services provider's stock after acquiring an additional 2,492 shares during the period. Alphabet accounts for about 1.0% of Thoroughbred Financial Services LLC's investment portfolio, making the stock its 20th largest position. Thoroughbred Financial Services LLC's holdings in Alphabet were worth $16,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the first quarter worth about $26,000. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter worth about $27,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $32,000. Finally, Graybill Wealth Management LTD. acquired a new position in shares of Alphabet in the 1st quarter valued at about $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $195.75 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm's 50-day simple moving average is $179.89 and its 200-day simple moving average is $174.38. The firm has a market cap of $2.37 trillion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. 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 $93.67 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,399 shares of company stock worth $43,525,794. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on GOOG. Pivotal Research raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $215.19.

About Alphabet

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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