Fairfield Financial Advisors LTD Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Fairfield Financial Advisors LTD acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,309 shares of the information services provider’s stock, valued at approximately $10,985,000. Alphabet accounts for about 3.9% of Fairfield Financial Advisors LTD’s holdings, making the stock its 9th biggest position.

Several other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. raised its position in shares of Alphabet by 3.6% during the second quarter. Brown Brothers Harriman & Co. now owns 533,632 shares of the information services provider’s stock worth $97,201,000 after purchasing an additional 18,656 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Alphabet during the second quarter worth $251,000. Rathbones Group PLC raised its position in shares of Alphabet by 2.7% during the second quarter. Rathbones Group PLC now owns 4,244,505 shares of the information services provider’s stock worth $773,137,000 after purchasing an additional 111,496 shares during the period. Pine Harbor Wealth Management LLC raised its position in shares of Alphabet by 2.0% during the second quarter. Pine Harbor Wealth Management LLC now owns 8,306 shares of the information services provider’s stock worth $1,513,000 after purchasing an additional 164 shares during the period. Finally, Plato Investment Management Ltd raised its position in shares of Alphabet by 4.3% during the second quarter. Plato Investment Management Ltd now owns 130,979 shares of the information services provider’s stock worth $23,858,000 after purchasing an additional 5,410 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. 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 700 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,605 shares of company stock valued at $29,277,931. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. Truist Financial reissued a “buy” rating and set a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Evercore ISI dropped their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Tigress Financial upped their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.35.

Alphabet Stock Performance

Alphabet stock opened at $163.95 on Monday. The company’s 50-day moving average price is $162.83 and its 200-day moving average price is $166.68. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. 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 cap of $2.03 trillion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm posted $1.44 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 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.