Friedenthal Financial Has $41,000 Stock Position in Alphabet Inc. $GOOG

Friedenthal Financial raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 109.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 230 shares of the information services provider’s stock after acquiring an additional 120 shares during the quarter. Friedenthal Financial’s holdings in Alphabet were worth $41,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $26,000. IFS Advisors LLC boosted its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GOOG shares. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Alphabet Stock Down 1.9%

Shares of NASDAQ GOOG opened at $237.49 on Friday. The firm has a market cap of $2.87 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.63 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 company’s fifty day simple moving average is $226.97 and its 200 day simple moving average is $189.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.