Financial Futures Ltd Liability Co. Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Financial Futures Ltd Liability Co. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,488 shares of the information services provider’s stock after buying an additional 400 shares during the quarter. Alphabet comprises about 0.9% of Financial Futures Ltd Liability Co.’s holdings, making the stock its 24th biggest holding. Financial Futures Ltd Liability Co.’s holdings in Alphabet were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital International Investors increased its position in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Capital World Investors increased its holdings in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the period. Capital Research Global Investors raised its position in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Norges Bank acquired a new stake in Alphabet during the 4th quarter worth $4,101,040,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 201,867 shares of company stock valued at $34,218,581 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.4 %

Alphabet stock opened at $152.15 on Thursday. The stock’s 50 day moving average price is $170.36 and its 200 day moving average price is $165.90. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a market cap of $1.87 trillion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Company 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.