Alphabet Inc. (NASDAQ:GOOG) is CCG Wealth Management LLC’s 9th Largest Position

CCG Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,210 shares of the information services provider’s stock after acquiring an additional 1,619 shares during the quarter. Alphabet makes up approximately 2.3% of CCG Wealth Management LLC’s investment portfolio, making the stock its 9th largest position. CCG Wealth Management LLC’s holdings in Alphabet were worth $3,838,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GOOG. Legacy Advisors LLC grew its position in Alphabet by 13.7% during the third quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock valued at $4,355,000 after buying an additional 4,270 shares during the period. Lakeshore Financial Planning Inc. purchased a new stake in shares of Alphabet during the 3rd quarter worth about $513,000. LaSalle St. Investment Advisors LLC grew its position in shares of Alphabet by 14.8% during the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 2,799 shares of the information services provider’s stock valued at $369,000 after acquiring an additional 360 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of Alphabet by 49.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 79,675 shares of the information services provider’s stock valued at $10,505,000 after purchasing an additional 26,468 shares in the last quarter. Finally, Kinetic Partners Management LP raised its holdings in Alphabet by 23.3% in the 3rd quarter. Kinetic Partners Management LP now owns 444,100 shares of the information services provider’s stock worth $58,555,000 after purchasing an additional 83,900 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.6 %

Shares of GOOG stock opened at $184.49 on Tuesday. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. 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 stock’s fifty day moving average is $174.40 and its two-hundred day moving average is $155.84. The firm has a market capitalization of $2.28 trillion, a P/E ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the prior year, the business earned $1.17 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

Several analysts have commented on GOOG shares. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,344 shares of company stock valued at $23,920,676. 12.99% of the stock is currently owned by insiders.

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.