Financial Partners Group Inc Acquires 27,089 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Mar 2nd, 2023

Financial Partners Group Inc increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,850.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,553 shares of the information services provider’s stock after purchasing an additional 27,089 shares during the quarter. Financial Partners Group Inc’s holdings in Alphabet were worth $2,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the period. West Michigan Advisors LLC lifted its holdings in Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the period. Somerville Kurt F lifted its holdings in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares during the period. 28.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Cowen lowered their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research report on Monday, February 6th. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock worth $3,424,078 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $90.51 on Thursday. The stock has a market capitalization of $1.16 trillion, a PE ratio of 19.89, a P/E/G ratio of 1.24 and a beta of 1.08. The business has a 50 day simple moving average of $94.13 and a two-hundred day simple moving average of $98.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. On average, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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