Florida Financial Advisors LLC Has $523,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Florida Financial Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,346 shares of the information services provider’s stock after acquiring an additional 231 shares during the period. Florida Financial Advisors LLC’s holdings in Alphabet were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Norges Bank bought a new position in Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC lifted its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alphabet in the 4th quarter worth $1,551,533,000. Northern Trust Corp increased its holdings in Alphabet by 16.1% during 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 in the last quarter. Finally, GQG Partners LLC raised its stake in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOOG shares. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,443 shares of company stock valued at $36,298,548 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $181.31 on Monday. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock’s 50 day moving average is $171.50 and its 200-day moving average is $174.76.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 9.36%.

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.