Focus Financial Network Inc. Has $16.15 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Focus Financial Network Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,313 shares of the information services provider's stock after selling 2,637 shares during the period. Focus Financial Network Inc.'s holdings in Alphabet were worth $16,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $4.90 during midday trading on Friday, reaching $179.66. The company's stock had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The business's 50 day moving average price is $192.46 and its two-hundred day moving average price is $175.69. The company has a market cap of $2.19 trillion, a P/E ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's payout ratio is presently 9.94%.

Insiders Place Their Bets

In related news, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was 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 directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,299 shares of company stock valued at $25,055,751. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Wednesday, February 5th. DA Davidson lifted their price target on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $210.62.

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.