Financial Partners Group LLC Purchases 4,767 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Partners Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,397 shares of the information services provider’s stock after purchasing an additional 4,767 shares during the quarter. Alphabet accounts for 4.5% of Financial Partners Group LLC’s investment portfolio, making the stock its 2nd biggest holding. Financial Partners Group LLC’s holdings in Alphabet were worth $11,531,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter valued at $15,441,917,000. Fisher Asset Management LLC increased its position in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Alphabet by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after purchasing an additional 874,919 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Alphabet by 2.3% in the 4th quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after purchasing an additional 686,514 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOGL. Citigroup boosted their price objective on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and set a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective (down previously from $182.00) on shares of Alphabet in a research report on Friday, June 28th. Wells Fargo & Company upped their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $185.82 on Thursday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.09. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.30 trillion, a PE ratio of 28.50, a P/E/G ratio of 1.37 and a beta of 1.05. The stock’s 50 day moving average is $173.92 and its two-hundred day moving average is $155.17.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the company earned $1.17 earnings per share. Analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.