Financial Partners Group Inc Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Financial Partners Group Inc lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 52,848 shares of the information services provider’s stock after acquiring an additional 641 shares during the quarter. Alphabet makes up about 1.5% of Financial Partners Group Inc’s investment portfolio, making the stock its 21st biggest position. Financial Partners Group Inc’s holdings in Alphabet were worth $9,626,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC increased its holdings in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. TD Securities increased their price target on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Argus increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Truist Financial boosted their price target on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Monday, July 22nd. Finally, Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, 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. In the last three months, insiders sold 156,565 shares of company stock worth $26,823,893. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $165.62 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock has a market cap of $2.05 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s 50 day simple moving average is $174.73 and its 200 day simple moving average is $163.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is 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.