Full Sail Capital LLC Purchases 109 Shares of Alphabet Inc. $GOOG

Full Sail Capital LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,698 shares of the information services provider’s stock after acquiring an additional 109 shares during the period. Full Sail Capital LLC’s holdings in Alphabet were worth $422,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Alphabet by 3.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 53,125 shares of the information services provider’s stock worth $8,300,000 after purchasing an additional 1,642 shares during the period. Anson Funds Management LP acquired a new position in Alphabet in the first quarter valued at approximately $1,562,000. Baupost Group LLC MA boosted its holdings in shares of Alphabet by 45.7% during the 1st quarter. Baupost Group LLC MA now owns 2,077,988 shares of the information services provider’s stock worth $324,644,000 after buying an additional 652,000 shares in the last quarter. Freedom Investment Management Inc. boosted its holdings in shares of Alphabet by 8.3% during the 1st quarter. Freedom Investment Management Inc. now owns 6,793 shares of the information services provider’s stock worth $1,061,000 after buying an additional 521 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $220,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Stock Up 3.0%

Shares of NASDAQ GOOG opened at $206.72 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day moving average price of $187.71 and a 200-day moving average price of $174.60. The stock has a market capitalization of $2.50 trillion, a P/E ratio of 22.01, a P/E/G ratio of 1.39 and a beta of 1.02. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $209.23.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The company 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%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued 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 is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Alphabet Profile

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.