Focus Financial Network Inc. Buys 423 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Focus Financial Network Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,950 shares of the information services provider’s stock after purchasing an additional 423 shares during the quarter. Focus Financial Network Inc.’s holdings in Alphabet were worth $14,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter worth $41,000. CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Alphabet in the second quarter valued at $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $178.88 on Thursday. The firm has a fifty day moving average price of $164.37 and a 200 day moving average price of $169.98. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market cap of $2.19 trillion, a P/E ratio of 23.72, a P/E/G ratio of 1.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOGL shares. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 207,495 shares of company stock valued at $34,586,641. 11.55% of the stock is owned by company insiders.

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.