Financial Partners Group Inc Sells 104 Shares of Alphabet Inc. (NASDAQ:GOOG)

Financial Partners Group Inc cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 26,054 shares of the information services provider’s stock after selling 104 shares during the period. Financial Partners Group Inc’s holdings in Alphabet were worth $4,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. M&G PLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $2,240,000. GPS Wealth Strategies Group LLC lifted its stake in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares in the last quarter. Metis Global Partners LLC lifted its stake in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $927,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.0 %

Shares of GOOG opened at $193.31 on Friday. The firm’s 50-day moving average price is $192.33 and its 200-day moving average price is $176.03. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOOG shares. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.