Financial Symmetry Inc Increases Position in Alphabet Inc. $GOOG

Financial Symmetry Inc lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,979 shares of the information services provider’s stock after purchasing an additional 157 shares during the period. Financial Symmetry Inc’s holdings in Alphabet were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RDA Financial Network increased its stake in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet during the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC increased its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after buying an additional 1,776 shares in the last quarter. Dock Street Asset Management Inc. increased its stake in Alphabet by 0.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after buying an additional 15,065 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOG. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. UBS Group set a $255.00 price objective on Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Oppenheimer set a $300.00 price objective on Alphabet and gave the stock an “outperform” rating in a research note on Monday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $246.26.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $252.53 on Thursday. The stock has a market cap of $3.05 trillion, a P/E ratio of 26.89, a P/E/G ratio of 1.70 and a beta of 1.00. The stock’s 50 day simple moving average is $235.22 and its 200-day simple moving average is $194.81. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.