Forum Financial Management LP Has $20.71 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Forum Financial Management LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 94.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,581 shares of the information services provider’s stock after acquiring an additional 64,303 shares during the quarter. Alphabet accounts for about 0.3% of Forum Financial Management LP’s investment portfolio, making the stock its 23rd largest holding. Forum Financial Management LP’s holdings in Alphabet were worth $20,713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its holdings in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp lifted its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $183.77 on Thursday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business has a fifty day moving average price of $172.81 and a two-hundred day moving average price of $174.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $2.23 trillion, a PE ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,343 shares of company stock worth $31,296,140 in the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOG. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Alphabet Company 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.