Farrow Financial Inc. Makes New $2.07 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Farrow Financial Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,387 shares of the information services provider’s stock, valued at approximately $2,070,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its holdings in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC grew its holdings in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock valued at $13,873,000 after purchasing an additional 13,564 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock valued at $49,674,273 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $201.00 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.36 and a beta of 1.01. The business’s 50-day moving average is $181.53 and its two-hundred day moving average is $172.81. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Sanford C. Bernstein raised their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $211.53.

Alphabet 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.