CGN Advisors LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

CGN Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,445 shares of the information services provider’s stock after purchasing an additional 1,098 shares during the period. CGN Advisors LLC’s holdings in Alphabet were worth $6,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter valued at $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Armor Investment Advisors LLC grew its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 2.7 %

Shares of GOOGL opened at $184.03 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $184.29. The stock has a fifty day moving average of $171.13 and a two-hundred day moving average of $153.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.27 trillion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm posted $1.17 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 146,374 shares of company stock valued at $24,548,073 over the last quarter. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial raised their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Raymond James boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Loop Capital increased their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Roth Mkm raised their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

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.