Firethorn Wealth Partners LLC Acquires 81 Shares of Alphabet Inc. $GOOG

Firethorn Wealth Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,633 shares of the information services provider’s stock after buying an additional 81 shares during the period. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $26,000. Robbins Farley raised its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. Goodman Advisory Group LLC bought a new stake in Alphabet in the first quarter worth $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet during the first quarter valued at $34,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Saturday, September 27th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Stock Up 2.1%

Shares of NASDAQ:GOOG opened at $251.51 on Tuesday. The business’s 50 day moving average is $223.05 and its 200 day moving average is $187.91. The stock has a market cap of $3.04 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company’s stock.

Alphabet 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.