1,140 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Strategic Financial Partners Ltd.

Strategic Financial Partners Ltd. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,140 shares of the information services provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Processus Wealth & Capital Management LLC increased its holdings in Alphabet by 0.9% in the 2nd quarter. Processus Wealth & Capital Management LLC now owns 20,396 shares of the information services provider’s stock valued at $3,715,000 after acquiring an additional 182 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Alphabet by 3.2% in the second quarter. Horizon Bancorp Inc. IN now owns 2,263 shares of the information services provider’s stock worth $412,000 after purchasing an additional 70 shares during the last quarter. HMS Capital Management LLC increased its holdings in shares of Alphabet by 8.9% in the second quarter. HMS Capital Management LLC now owns 15,295 shares of the information services provider’s stock worth $2,786,000 after purchasing an additional 1,255 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its position in shares of Alphabet by 5.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 3,071,380 shares of the information services provider’s stock worth $559,452,000 after buying an additional 152,148 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in Alphabet by 0.9% during the second quarter. Lebenthal Global Advisors LLC now owns 17,372 shares of the information services provider’s stock valued at $3,164,000 after buying an additional 150 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Jefferies Financial Group upped their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price target on shares of Alphabet in a research note on Thursday. Evercore ISI increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Wedbush restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Monday, July 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Six 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 company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $163.38 on Friday. The firm has a 50 day moving average of $173.44 and a 200 day moving average of $163.65. 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 company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,565 shares of company stock worth $26,823,893. Corporate 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.