Financial Strategies Group Inc. Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Financial Strategies Group Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,876 shares of the information services provider’s stock after purchasing an additional 8,156 shares during the quarter. Alphabet comprises approximately 1.9% of Financial Strategies Group Inc.’s holdings, making the stock its 14th largest holding. Financial Strategies Group Inc.’s holdings in Alphabet were worth $6,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Kennedy Capital Management LLC grew its holdings in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after purchasing an additional 7,556 shares during the last quarter. Jackson Wealth Management LLC grew its holdings in Alphabet by 4.6% during the 3rd quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock valued at $5,248,000 after purchasing an additional 1,735 shares during the last quarter. JS Capital Management LLC grew its holdings in Alphabet by 164.0% during the 3rd quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock valued at $43,510,000 after purchasing an additional 205,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Finally, Seven Eight Capital LP grew its holdings in Alphabet by 48.1% during the 3rd quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock valued at $11,705,000 after purchasing an additional 28,838 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 over the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Price Performance

Shares of GOOG opened at $186.61 on Wednesday. The company has a 50 day moving average price of $174.93 and a 200-day moving average price of $156.20. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The stock has a market capitalization of $2.31 trillion, a PE ratio of 28.62, a PEG ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.