Firethorn Wealth Partners LLC Has $1.98 Million Stock Holdings in Alphabet Inc. $GOOGL

Firethorn Wealth Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,215 shares of the information services provider’s stock after selling 792 shares during the period. Alphabet comprises approximately 0.9% of Firethorn Wealth Partners LLC’s holdings, making the stock its 27th largest position. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,976,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Missouri Trust & Investment Co boosted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the period. AM Investment Strategies LLC boosted its position in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the period. Bfsg LLC boosted its position in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the period. Financial Council LLC boosted its position in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares during the period. Finally, Enzi Wealth boosted its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,338 shares of company stock valued at $59,062,683 over the last three months. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 2.1%

Shares of Alphabet stock opened at $236.57 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 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’s 50-day moving average price is $226.31 and its 200-day moving average price is $188.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Piper Sandler increased their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. UBS Group increased their target price on shares of Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday. Citigroup increased their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Roth Capital increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $245.88.

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.