Gryphon Financial Partners LLC Buys 3,156 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gryphon Financial Partners LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,727 shares of the information services provider’s stock after purchasing an additional 3,156 shares during the period. Alphabet makes up about 1.1% of Gryphon Financial Partners LLC’s holdings, making the stock its 18th biggest position. Gryphon Financial Partners LLC’s holdings in Alphabet were worth $7,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nebula Research & Development LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $787,000. New Hampshire Trust grew its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new stake in Alphabet during the first quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP raised its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Finally, Johnson Financial Group Inc. boosted its stake in Alphabet by 14.5% in the fourth quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock valued at $3,046,000 after acquiring an additional 2,763 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOGL shares. TD Securities raised their price target on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a report on Monday, September 16th. Finally, Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

Shares of GOOGL stock opened at $162.29 on Wednesday. The company has a market capitalization of $2.01 trillion, a P/E ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50 day moving average price of $163.80 and a two-hundred day moving average price of $166.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred 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 directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock worth $29,878,106 in the last three months. Insiders own 11.55% of the company’s stock.

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.