Flagstone Financial Management Purchases 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Flagstone Financial Management grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the first quarter, Holdings Channel reports. The fund owned 2,876 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Flagstone Financial Management’s holdings in Alphabet were worth $449,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. LSV Asset Management bought a new stake in shares of Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter worth about $43,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock valued at $32,003,532. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.8%

GOOG opened at $173.98 on Friday. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.23 and a beta of 1.01. The firm has a 50 day moving average price of $166.15 and a 200-day moving average price of $176.43. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOG shares. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Scotiabank cut their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Citigroup reissued a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

About Alphabet

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.