Facet Wealth Inc. Buys 176 Shares of Alphabet Inc. (NASDAQ:GOOG)

by · The Cerbat Gem

Facet Wealth Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.7% in the first quarter, HoldingsChannel reports. The fund owned 4,910 shares of the information services provider’s stock after acquiring an additional 176 shares during the period. Facet Wealth Inc.’s holdings in Alphabet were worth $815,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. ARQ Wealth Advisors LLC raised its holdings in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after buying an additional 1,376 shares during the period. Harvest Investment Services LLC lifted its holdings in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after buying an additional 138 shares during the period. Fermata Advisors LLC boosted its stake in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Finally, jvl associates llc grew its holdings in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after acquiring an additional 343 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $194.08 on Monday. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a fifty day simple moving average of $176.86 and a 200 day simple moving average of $174.38. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is 8.95%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOG. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $215.19.

Get Our Latest Analysis on Alphabet

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 in the last ninety days. Insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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.

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