Firethorn Wealth Partners LLC Has $1.98 Million Stock Holdings in Alphabet Inc. $GOOGL

Firethorn Wealth Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,215 shares of the information services provider’s stock after selling 792 shares during the quarter. Alphabet comprises about 0.9% of Firethorn Wealth Partners LLC’s portfolio, making the stock its 27th largest holding. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,976,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Missouri Trust & Investment Co grew its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its holdings in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC grew its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC grew its holdings in Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the last quarter. Finally, Enzi Wealth grew its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Shares of NASDAQ GOOGL opened at $236.57 on Monday. The company has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50 day moving average price is $226.31 and its 200-day moving average price is $188.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock worth $59,062,683 in the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Truist Financial boosted their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Roth Capital boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.88.

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.