Farrow Financial Inc. Acquires Shares of 13,387 Alphabet Inc. (NASDAQ:GOOGL)

Farrow Financial Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 13,387 shares of the information services provider’s stock, valued at approximately $2,070,000.

Several other large investors have also recently bought and sold shares of the business. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOGL. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Cantor Fitzgerald boosted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Barclays boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. BMO Capital Markets boosted their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Loop Capital restated a “hold” rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Alphabet Trading Down 0.2%

NASDAQ GOOGL opened at $201.00 on Tuesday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. 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 capitalization of $2.43 trillion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The firm’s fifty day simple moving average is $181.53 and its 200-day simple moving average is $172.81.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the company’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 $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,219 shares of company stock valued at $49,674,273 over the last ninety days. 11.55% of the stock is owned by insiders.

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.