FRG Family Wealth Advisors LLC Has $18.32 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

FRG Family Wealth Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,560 shares of the information services provider’s stock after acquiring an additional 135 shares during the quarter. Alphabet makes up about 2.7% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 8th largest position. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $18,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Nebula Research & Development LLC bought a new stake in Alphabet during the fourth quarter worth about $787,000. New Hampshire Trust raised its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new stake in Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its stake in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the period. Finally, Johnson Financial Group Inc. increased its stake in shares of Alphabet by 14.5% during the fourth quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock worth $3,046,000 after purchasing an additional 2,763 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $161.85 on Tuesday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a 50 day simple moving average of $164.23 and a two-hundred day simple moving average of $165.98. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. Analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,167 shares of company stock worth $29,762,606. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. UBS Group increased their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Citigroup increased their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

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.