Alphabet Inc. $GOOG Shares Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 75.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 139,395 shares of the information services provider’s stock after purchasing an additional 60,023 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Alphabet were worth $33,950,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Ignite Planners LLC raised its position in Alphabet by 1.0% in the 2nd quarter. Ignite Planners LLC now owns 14,506 shares of the information services provider’s stock valued at $2,697,000 after purchasing an additional 144 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Alphabet by 7.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 594,959 shares of the information services provider’s stock valued at $105,540,000 after purchasing an additional 41,132 shares in the last quarter. Sebold Capital Management Inc. boosted its stake in shares of Alphabet by 9.6% in the 2nd quarter. Sebold Capital Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $500,000 after buying an additional 248 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Alphabet by 104.6% during the second quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 15,559 shares of the information services provider’s stock worth $2,760,000 after buying an additional 7,954 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOG. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Wednesday, December 17th. Pivotal Research reissued a “buy” rating and issued a $420.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $385.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Guggenheim reiterated a “buy” rating and set a $375.00 target price on shares of Alphabet in a research note on Monday, December 1st. Finally, Scotiabank restated an “outperform” rating and issued a $400.00 price target (up from $375.00) on shares of Alphabet in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $343.90.

Read Our Latest Stock Report on GOOG

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 0.9%

Shares of NASDAQ:GOOG opened at $303.53 on Wednesday. The firm has a 50 day simple moving average of $321.14 and a 200-day simple moving average of $285.34. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $350.15. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.67 trillion, a PE ratio of 28.08, a P/E/G ratio of 1.79 and a beta of 1.10.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. During the same period last year, the business earned $2.15 EPS. Alphabet’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 7.77%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 47,574 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the sale, the chief executive officer directly owned 2,818,524 shares of the company’s stock, valued at $856,605,814.08. The trade was a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,078,926 shares of company stock worth $108,426,720. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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