Triune Financial Partners LLC Purchases New Position in Alphabet Inc. $GOOG

Key Points

• Triune Financial Partners LLC invested approximately $213,000 in Alphabet Inc. by purchasing 1,365 shares, indicating growing institutional interest in the tech giant.
• CEO Sundar Pichai sold 32,500 shares at an average price of $199.92, reducing his ownership by 1.30%, amidst significant insider selling totaling 254,710 shares in the last three months.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting a 0.4% dividend yield and a payout ratio of 8.95%.

Triune Financial Partners LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 1,365 shares of the information services provider's stock, valued at approximately $213,000.

A number of other hedge funds have also bought and sold shares of the business. ARQ Wealth Advisors LLC boosted its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky boosted its holdings in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Fermata Advisors LLC boosted its holdings in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the period. jvl associates llc boosted its holdings in Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co boosted its holdings in Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after purchasing an additional 2,292 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $49,208,380 over the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.2%

Shares of NASDAQ GOOG traded up $0.60 during trading hours on Friday, hitting $241.38. The company's stock had a trading volume of 14,519,054 shares, compared to its average volume of 22,624,780. 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 stock has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $242.57. The business has a 50-day simple moving average of $202.67 and a 200-day simple moving average of $178.86.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, KeyCorp set a $265.00 price objective on shares of Alphabet in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

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.