Cape Investment Advisory Inc. Has $2.31 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Cape Investment Advisory Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,361 shares of the information services provider’s stock after acquiring an additional 1,328 shares during the quarter. Alphabet accounts for approximately 1.1% of Cape Investment Advisory Inc.’s investment portfolio, making the stock its 14th biggest holding. Cape Investment Advisory Inc.’s holdings in Alphabet were worth $2,306,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter worth $26,000. Partnership Wealth Management LLC acquired a new position in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet in the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOOG shares. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $165.67.

View Our Latest Analysis on Alphabet

Alphabet Price Performance

NASDAQ:GOOG traded up $1.27 during trading hours on Friday, reaching $176.33. 11,403,560 shares of the company were exchanged, compared to its average volume of 21,240,740. The business has a 50 day moving average of $162.27 and a 200 day moving average of $148.21. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $179.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.18 trillion, a P/E ratio of 27.04, a P/E/G ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the company posted $1.17 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 7.7 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock valued at $31,178,987 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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