Capital Advisors Wealth Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capital Advisors Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 14.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,668 shares of the information services provider’s stock after acquiring an additional 4,465 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Alphabet were worth $5,516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth approximately $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. GAMMA Investing LLC grew its stake in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Northern Trust Corp grew its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors grew its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. UBS Group set a $195.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research note on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $199.95.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company’s stock, valued at $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,643 shares of company stock valued at $36,330,928. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.08 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company’s fifty day moving average price is $168.36 and its two-hundred day moving average price is $174.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

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.