Financial Council LLC Has $1.18 Million Holdings in Alphabet Inc. $GOOG

Financial Council LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,659 shares of the information services provider’s stock after acquiring an additional 61 shares during the quarter. Alphabet comprises 0.6% of Financial Council LLC’s holdings, making the stock its 29th largest holding. Financial Council LLC’s holdings in Alphabet were worth $1,181,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fortis Capital Advisors LLC grew its position in Alphabet by 3.0% in the 2nd quarter. Fortis Capital Advisors LLC now owns 21,848 shares of the information services provider’s stock valued at $3,876,000 after purchasing an additional 643 shares during the period. Jackson Wealth Management LLC lifted its stake in shares of Alphabet by 0.3% in the second quarter. Jackson Wealth Management LLC now owns 41,560 shares of the information services provider’s stock valued at $7,372,000 after buying an additional 108 shares in the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of Alphabet by 0.8% during the second quarter. Franklin Street Advisors Inc. NC now owns 338,236 shares of the information services provider’s stock valued at $60,000,000 after buying an additional 2,716 shares during the last quarter. Curran Financial Partners LLC acquired a new position in shares of Alphabet during the second quarter valued at about $230,000. Finally, Barrett & Company Inc. increased its position in shares of Alphabet by 1.5% during the second quarter. Barrett & Company Inc. now owns 10,933 shares of the information services provider’s stock worth $1,939,000 after acquiring an additional 161 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.0%

GOOG opened at $246.45 on Monday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a market cap of $2.98 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $221.89 and a 200 day moving average of $187.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOG. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Jefferies Financial Group raised their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $235.33.

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.