Alphabet Inc. $GOOG Shares Bought by CV Advisors LLC
by Kim Johansen · The Markets DailyCV Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,307 shares of the information services provider’s stock after acquiring an additional 638 shares during the period. Alphabet comprises about 0.7% of CV Advisors LLC’s holdings, making the stock its 13th biggest holding. CV Advisors LLC’s holdings in Alphabet were worth $2,183,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC raised its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet in the first quarter valued at about $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 2.2%
Shares of GOOG opened at $251.71 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a 50-day moving average price of $230.06 and a 200 day moving average price of $191.42. The firm has a market capitalization of $3.04 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.66 and a beta of 1.00.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Jefferies Financial Group increased their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.
View Our Latest Stock Analysis on GOOG
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 244,438 shares of company stock worth $53,216,085. 12.99% of the stock is owned by corporate insiders.
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.
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