Financial Advisory Partners LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Financial Advisory Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,425 shares of the information services provider’s stock after selling 141 shares during the period. Financial Advisory Partners LLC’s holdings in Alphabet were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GOOGL. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 39.6% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 409 shares of the information services provider’s stock valued at $75,000 after acquiring an additional 116 shares during the last quarter. Vance Wealth Inc. raised its stake in shares of Alphabet by 4.0% in the 2nd quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock valued at $563,000 after purchasing an additional 119 shares in the last quarter. Focus Financial Network Inc. lifted its position in shares of Alphabet by 3.4% during the second quarter. Focus Financial Network Inc. now owns 87,527 shares of the information services provider’s stock worth $15,844,000 after purchasing an additional 2,905 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Alphabet in the second quarter worth about $1,442,000. Finally, BigSur Wealth Management LLC increased its holdings in Alphabet by 136.8% in the second quarter. BigSur Wealth Management LLC now owns 26,140 shares of the information services provider’s stock valued at $4,761,000 after buying an additional 15,100 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research report on Tuesday, August 6th. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Truist Financial raised their price target on shares of Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Evercore ISI raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $166.16 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $174.51 and a 200-day moving average of $163.44. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’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 sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold a total of 156,565 shares of company stock valued at $26,823,893 over the last three months. Insiders own 11.55% of the company’s stock.

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.