Financial Consulate Inc. Makes New $979,000 Investment in Alphabet Inc. $GOOGL

Financial Consulate Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,553 shares of the information services provider’s stock, valued at approximately $979,000. Alphabet comprises approximately 0.2% of Financial Consulate Inc.’s holdings, making the stock its 28th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp lifted its position in Alphabet by 2.3% during the 2nd quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock worth $448,684,000 after acquiring an additional 56,295 shares during the period. Broadway Wealth Solutions Inc. increased its holdings in shares of Alphabet by 52.9% in the second quarter. Broadway Wealth Solutions Inc. now owns 3,435 shares of the information services provider’s stock valued at $605,000 after purchasing an additional 1,189 shares during the period. Donald L. Hagan LLC raised its stake in shares of Alphabet by 4.4% in the second quarter. Donald L. Hagan LLC now owns 15,548 shares of the information services provider’s stock worth $2,740,000 after purchasing an additional 658 shares during the last quarter. Powers Advisory Group LLC lifted its holdings in shares of Alphabet by 1.8% during the second quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider’s stock worth $628,000 after purchasing an additional 62 shares during the period. Finally, Bourgeon Capital Management LLC boosted its position in Alphabet by 4.4% in the second quarter. Bourgeon Capital Management LLC now owns 127,193 shares of the information services provider’s stock valued at $22,415,000 after buying an additional 5,373 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $250.43 on Tuesday. The firm has a market cap of $3.03 trillion, a PE ratio of 26.67, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $222.41 and a 200 day moving average price of $186.72.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citizens Jmp raised their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Barclays upped their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. UBS Group lifted their price objective on Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC boosted their price objective on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

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.