2,137 Shares in Alphabet Inc. $GOOGL Bought by Financial Solutions Advisory Group Inc.

Financial Solutions Advisory Group Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 2,137 shares of the information services provider’s stock, valued at approximately $614,000.

Other institutional investors have also recently made changes to their positions in the company. EMC Capital Management acquired a new stake in Alphabet during the 4th quarter valued at approximately $33,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $32,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $52,000. Finally, Kentucky Trust Co increased its position in shares of Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $354.30 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a 50-day moving average of $355.68 and a 200-day moving average of $340.41. The company has a market cap of $4.33 trillion, a PE ratio of 17.80, a P/E/G ratio of 0.99 and a beta of 1.24. Alphabet Inc. has a one year low of $196.60 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, equities research analysts predict that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 600,547 shares of company stock worth $16,255,540 in the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Citigroup reissued an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Finally, Dbs Bank raised their target price on Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $419.86.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.