IFP Advisors Inc Has $14.44 Million Stock Position in Alphabet Inc. $GOOG

IFP Advisors Inc lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.4% in the second quarter, Holdings Channel reports. The institutional investor owned 81,349 shares of the information services provider’s stock after acquiring an additional 3,463 shares during the period. IFP Advisors Inc’s holdings in Alphabet were worth $14,438,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC raised its stake in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares in the last quarter. GAMMA Investing LLC raised its stake in Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after purchasing an additional 14,931 shares in the last quarter. Goldstone Financial Group LLC raised its stake in Alphabet by 15.1% in the first quarter. Goldstone Financial Group LLC now owns 3,210 shares of the information services provider’s stock valued at $502,000 after purchasing an additional 420 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its stake in Alphabet by 21.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 2,794 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Get Our Latest Stock Report on Alphabet

Alphabet Stock Down 1.9%

Shares of NASDAQ GOOG opened at $237.49 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The stock has a 50-day moving average price of $226.97 and a two-hundred day moving average price of $189.99.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. Corporate 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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