Financial Partners Group Inc Sells 113 Shares of Alphabet Inc. (NASDAQ:GOOG)

Financial Partners Group Inc lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,609 shares of the information services provider’s stock after selling 113 shares during the period. Financial Partners Group Inc’s holdings in Alphabet were worth $5,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Park Avenue Securities LLC lifted its holdings in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares during the period. Investment Partners LTD. grew its stake in Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 410 shares during the period. Apexium Financial LP grew its stake in Alphabet by 335.9% in the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after purchasing an additional 41,476 shares during the period. Oak Ridge Investments LLC raised its holdings in Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares in the last quarter. Finally, EFG Asset Management Americas Corp. boosted its holdings in shares of Alphabet by 9.7% during the 4th quarter. EFG Asset Management Americas Corp. now owns 116,905 shares of the information services provider’s stock valued at $16,475,000 after buying an additional 10,359 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOG shares. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus target price of $182.86.

Alphabet Stock Up 1.0 %

Shares of Alphabet stock traded up $1.57 on Friday, reaching $164.74. The company’s stock had a trading volume of 16,853,137 shares, compared to its average volume of 20,481,816. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The firm’s fifty day simple moving average is $177.37 and its two-hundred day simple moving average is $163.96. 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 capitalization of $2.04 trillion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,865 shares of company stock valued at $27,137,693. Company insiders own 12.99% of the company’s stock.

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.