Narus Financial Partners LLC Purchases 157 Shares of Alphabet Inc. $GOOGL

Narus Financial Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the second quarter, Holdings Channel reports. The fund owned 13,445 shares of the information services provider’s stock after buying an additional 157 shares during the quarter. Alphabet comprises approximately 0.7% of Narus Financial Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Narus Financial Partners LLC’s holdings in Alphabet were worth $2,369,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rooted Wealth Advisors Inc. lifted its position in shares of Alphabet by 1.3% during the 2nd quarter. Rooted Wealth Advisors Inc. now owns 5,970 shares of the information services provider’s stock worth $1,076,000 after purchasing an additional 77 shares during the last quarter. Lewis Asset Management LLC increased its position in Alphabet by 106.7% in the 2nd quarter. Lewis Asset Management LLC now owns 18,359 shares of the information services provider’s stock worth $3,235,000 after buying an additional 9,475 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Alphabet by 8.4% during the second quarter. Toth Financial Advisory Corp now owns 84,947 shares of the information services provider’s stock worth $14,970,000 after buying an additional 6,600 shares during the last quarter. Abacus Wealth Partners LLC boosted its position in shares of Alphabet by 5.5% in the second quarter. Abacus Wealth Partners LLC now owns 3,770 shares of the information services provider’s stock valued at $664,000 after acquiring an additional 197 shares during the period. Finally, Southland Equity Partners LLC grew its stake in shares of Alphabet by 8.2% in the second quarter. Southland Equity Partners LLC now owns 2,434 shares of the information services provider’s stock worth $429,000 after acquiring an additional 185 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was 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 of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 in the last 90 days. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $247.14 on Thursday. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.01. The firm’s 50-day moving average price is $213.46 and its two-hundred day moving average price is $181.91. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their price target on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird boosted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank Of Canada increased their target price on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. KeyCorp lifted their target price on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $201.00 price target on shares of Alphabet in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.31.

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.