Financial Partners Group Inc decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,675 shares of the information services provider’s stock after selling 27 shares during the period. Alphabet comprises approximately 0.8% of Financial Partners Group Inc’s investment portfolio, making the stock its 29th biggest holding. Financial Partners Group Inc’s holdings in Alphabet were worth $2,462,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in shares of Alphabet by 40.3% in the third quarter. Great West Life Assurance Co. Can now owns 234,410 shares of the information services provider’s stock valued at $236,617,000 after purchasing an additional 67,275 shares during the period. QCM Cayman Ltd. grew its stake in Alphabet by 48.0% in the 3rd quarter. QCM Cayman Ltd. now owns 444 shares of the information services provider’s stock valued at $653,000 after buying an additional 144 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. raised its holdings in Alphabet by 3.1% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,673 shares of the information services provider’s stock valued at $2,459,000 after acquiring an additional 50 shares during the period. McIlrath & Eck LLC lifted its position in Alphabet by 1.3% during the third quarter. McIlrath & Eck LLC now owns 471 shares of the information services provider’s stock worth $692,000 after acquiring an additional 6 shares during the last quarter. Finally, Cascadia Advisory Services LLC boosted its holdings in shares of Alphabet by 7.9% during the third quarter. Cascadia Advisory Services LLC now owns 245 shares of the information services provider’s stock worth $360,000 after acquiring an additional 18 shares during the period. 32.42% of the stock is owned by institutional investors.
Alphabet stock traded down $20.10 during trading hours on Monday, hitting $1,773.09. The stock had a trading volume of 14,772 shares, compared to its average volume of 1,925,795. The business’s 50 day simple moving average is $1,662.58 and its 200-day simple moving average is $1,528.56. Alphabet Inc. has a one year low of $1,013.54 and a one year high of $1,818.06. The stock has a market cap of $1,212.96 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 2.04 and a beta of 1.01. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $11.35 by $5.05. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $46.17 billion during the quarter, compared to the consensus estimate of $42.84 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. The firm’s revenue was up 14.0% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 50.53 EPS for the current fiscal year.
In related news, Director Ann Mather sold 22 shares of Alphabet stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total value of $32,653.94. Following the transaction, the director now directly owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,538.29, for a total value of $92,297.40. Following the completion of the sale, the director now owns 517 shares in the company, valued at $795,295.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162 shares of company stock valued at $245,920. Corporate insiders own 12.99% of the company’s stock.
Several analysts recently weighed in on GOOG shares. Cleveland Research raised Alphabet to a “buy” rating in a report on Friday, October 23rd. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 30th. Barclays raised their price target on shares of Alphabet from $1,800.00 to $1,900.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, October 30th. Finally, Canaccord Genuity boosted their price target on Alphabet from $1,800.00 to $1,900.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $1,786.86.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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