Alphabet Inc. (NASDAQ:GOOG) Stake Increased by Founders Financial Alliance LLC

Founders Financial Alliance LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,827 shares of the information services provider’s stock after buying an additional 170 shares during the quarter. Founders Financial Alliance LLC’s holdings in Alphabet were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GOOG. Concentrum Wealth Management grew its stake in Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Alphabet by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 8,370 shares of the information services provider’s stock valued at $1,180,000 after buying an additional 1,113 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Alphabet by 19.2% in the fourth quarter. Belpointe Asset Management LLC now owns 49,615 shares of the information services provider’s stock worth $6,992,000 after buying an additional 8,009 shares during the last quarter. Royal London Asset Management Ltd. raised its position in Alphabet by 3.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,996,340 shares of the information services provider’s stock valued at $281,344,000 after acquiring an additional 70,385 shares in the last quarter. Finally, Hirtle Callaghan & Co LLC lifted its stake in Alphabet by 2,518.4% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 102,040 shares of the information services provider’s stock valued at $14,380,000 after acquiring an additional 98,143 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities lowered 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, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.29.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 216,225 shares of company stock worth $36,134,681 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.1 %

GOOG opened at $167.19 on Tuesday. The business has a 50 day moving average of $164.02 and a 200-day moving average of $168.32. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the firm earned $1.44 EPS. The business’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend 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.