Financial Consulate Inc. Invests $1.72 Million in Alphabet Inc. (NASDAQ:GOOG)

23 Feb 2025, 09:15 by Mitch Edgeman · The Markets Daily

Financial Consulate Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,027 shares of the information services provider’s stock, valued at approximately $1,719,000. Alphabet comprises about 0.5% of Financial Consulate Inc.’s holdings, making the stock its 19th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB grew its position in Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after purchasing an additional 51,226 shares during the last quarter. Harvey Investment Co. LLC grew its position in Alphabet by 2.9% during the 3rd quarter. Harvey Investment Co. LLC now owns 108,221 shares of the information services provider’s stock worth $18,093,000 after purchasing an additional 3,085 shares during the last quarter. Grimes & Company Inc. grew its position in Alphabet by 0.6% during the 3rd quarter. Grimes & Company Inc. now owns 71,485 shares of the information services provider’s stock worth $11,952,000 after purchasing an additional 436 shares during the last quarter. Impact Partnership Wealth LLC grew its position in Alphabet by 7.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,823 shares of the information services provider’s stock worth $305,000 after purchasing an additional 119 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its position in Alphabet by 2.0% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,857 shares of the information services provider’s stock worth $16,026,000 after purchasing an additional 1,842 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock worth $25,055,751. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Check Out Our Latest Analysis on Alphabet

Alphabet Stock Performance

NASDAQ:GOOG opened at $181.58 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a fifty day moving average of $194.02 and a two-hundred day moving average of $177.34. The stock has a market capitalization of $2.21 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Alphabet Company Profile

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