Capital Advisors Wealth Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Capital Advisors Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,960 shares of the information services provider’s stock after buying an additional 96 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Alphabet were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. M&G PLC acquired a new stake in Alphabet in the 3rd quarter worth about $2,240,000. Coldstream Capital Management Inc. lifted its holdings in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the period. Metis Global Partners LLC boosted its position in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Stevens Capital Management LP grew its holdings in Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $197.55 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The business has a 50 day moving average price of $185.56 and a two-hundred day moving average price of $174.84. The firm has a market cap of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOG shares. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three 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 $200.56.

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.