Financial Partners Group LLC Acquires 2,970 Shares of Alphabet Inc. $GOOGL

Financial Partners Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,871 shares of the information services provider’s stock after buying an additional 2,970 shares during the quarter. Alphabet makes up approximately 5.0% of Financial Partners Group LLC’s investment portfolio, making the stock its 2nd largest position. Financial Partners Group LLC’s holdings in Alphabet were worth $13,899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Missouri Trust & Investment Co grew its position in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC grew its position in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Enzi Wealth grew its position in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Park Capital Management LLC WI grew its position in shares of Alphabet by 1.1% in the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock valued at $1,058,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Mizuho set a $295.00 target price on Alphabet and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Truist Financial upped their target price on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Barclays boosted their price target on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Jefferies Financial Group boosted their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $240.76.

Alphabet Stock Up 0.3%

NASDAQ GOOGL opened at $245.69 on Friday. The business has a fifty day moving average price of $220.21 and a two-hundred day moving average price of $185.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a PEG ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

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.