Financial Futures Ltd Liability Co. Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Financial Futures Ltd Liability Co. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 5.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,488 shares of the information services provider’s stock after purchasing an additional 400 shares during the period. Alphabet accounts for approximately 0.9% of Financial Futures Ltd Liability Co.’s portfolio, making the stock its 24th biggest holding. Financial Futures Ltd Liability Co.’s holdings in Alphabet were worth $1,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential PLC lifted its stake in Alphabet by 15.7% in the 2nd quarter. Prudential PLC now owns 527,604 shares of the information services provider’s stock worth $96,773,000 after purchasing an additional 71,452 shares in the last quarter. Invera Wealth Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $391,000. HCR Wealth Advisors boosted its stake in Alphabet by 0.6% during the second quarter. HCR Wealth Advisors now owns 22,733 shares of the information services provider’s stock worth $4,170,000 after buying an additional 138 shares during the last quarter. Fairbanks Capital Management Inc. grew its holdings in Alphabet by 1.7% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 26,742 shares of the information services provider’s stock valued at $4,905,000 after buying an additional 454 shares in the last quarter. Finally, NRI Wealth Management LC purchased a new stake in Alphabet in the 2nd quarter valued at $2,429,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOG shares. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Finally, TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.4 %

GOOG opened at $152.15 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.87 trillion, a P/E ratio of 23.34, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The business has a fifty day simple moving average of $170.36 and a 200-day simple moving average of $165.90.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. Alphabet’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s dividend payout ratio is presently 12.27%.

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.