Gryphon Financial Partners LLC Acquires 3,085 Shares of Alphabet Inc. $GOOGL

Gryphon Financial Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,386 shares of the information services provider’s stock after buying an additional 3,085 shares during the quarter. Alphabet makes up about 1.5% of Gryphon Financial Partners LLC’s holdings, making the stock its 15th biggest holding. Gryphon Financial Partners LLC’s holdings in Alphabet were worth $13,893,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOGL. Delta Asset Management LLC TN grew its holdings in Alphabet by 0.6% in the third quarter. Delta Asset Management LLC TN now owns 6,153 shares of the information services provider’s stock worth $1,496,000 after purchasing an additional 37 shares during the period. Second Line Capital LLC lifted its holdings in shares of Alphabet by 0.8% during the third quarter. Second Line Capital LLC now owns 4,417 shares of the information services provider’s stock valued at $1,074,000 after purchasing an additional 37 shares during the last quarter. Matisse Capital boosted its position in shares of Alphabet by 0.3% in the 3rd quarter. Matisse Capital now owns 14,814 shares of the information services provider’s stock worth $3,601,000 after purchasing an additional 38 shares in the last quarter. Rialto Wealth Management LLC boosted its position in shares of Alphabet by 1.7% in the 3rd quarter. Rialto Wealth Management LLC now owns 2,226 shares of the information services provider’s stock worth $541,000 after purchasing an additional 38 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its stake in shares of Alphabet by 0.5% in the 3rd quarter. Hodges Capital Management Inc. now owns 6,963 shares of the information services provider’s stock worth $1,693,000 after buying an additional 38 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOOGL shares. China Renaissance raised their price objective on Alphabet from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Citigroup raised their price target on Alphabet from $350.00 to $390.00 and gave the company a “buy” rating in a report on Friday, February 6th. Robert W. Baird lifted their price target on Alphabet from $375.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Mizuho upped their price target on shares of Alphabet from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $367.18.

Get Our Latest Stock Analysis on GOOGL

Alphabet Stock Up 0.2%

GOOGL stock opened at $290.93 on Thursday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $349.00. The business has a fifty day moving average price of $315.22 and a 200-day moving average price of $294.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market capitalization of $3.52 trillion, a P/E ratio of 26.91, a P/E/G ratio of 1.70 and a beta of 1.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 7.77%.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the sale, the director directly owned 18,418 shares in the company, valued at $5,580,469.82. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 47,574 shares of Alphabet stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This represents a 78.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,110,165 shares of company stock worth $118,134,117. 11.64% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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