Floyd Financial Group LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Floyd Financial Group LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,687 shares of the information services provider’s stock, valued at approximately $4,165,000. Alphabet makes up approximately 3.4% of Floyd Financial Group LLC’s portfolio, making the stock its 10th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC lifted its stake in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Finally, Wulff Hansen & CO. increased its stake in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $195.55 on Thursday. The stock’s fifty day simple moving average is $183.45 and its 200 day simple moving average is $173.04. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the company earned $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

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.