AFG Fiduciary Services Limited Partnership Takes $205,000 Position in Alphabet Inc. (NASDAQ:GOOG)

AFG Fiduciary Services Limited Partnership bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,117 shares of the information services provider’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Partnership Wealth Management LLC bought a new position in Alphabet during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at about $34,000. Richardson Financial Services Inc. bought a new position in Alphabet during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter worth about $37,000. Finally, Hoese & Co LLP boosted its holdings in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold a total of 178,383 shares of company stock valued at $30,906,970 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $165.11 on Tuesday. The business has a fifty day simple moving average of $174.78 and a 200 day simple moving average of $165.53. The company has a market cap of $2.03 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company posted $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.