Gryphon Financial Partners LLC Acquires 594 Shares of Alphabet Inc. (NASDAQ:GOOG)

Gryphon Financial Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,106 shares of the information services provider’s stock after purchasing an additional 594 shares during the period. Gryphon Financial Partners LLC’s holdings in Alphabet were worth $3,138,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GOOG. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter valued at about $34,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at about $37,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $44,000. Hoese & Co LLP grew its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOG shares. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday. Three research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Trading Up 2.2 %

Shares of NASDAQ:GOOG opened at $155.54 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.13 and a beta of 1.04. The business has a 50-day moving average price of $169.73 and a 200-day moving average price of $165.83.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $1.44 EPS. Equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,867 shares of company stock valued at $34,218,581. 12.99% of the stock is owned by company insiders.

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.