Capital Management Corp VA Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Capital Management Corp VA raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,676 shares of the information services provider’s stock after purchasing an additional 4,291 shares during the period. Capital Management Corp VA’s holdings in Alphabet were worth $7,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Vanguard Group Inc. lifted its position in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Capital World Investors increased its position in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of GOOGL opened at $172.49 on Monday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $165.61 and its 200-day simple moving average is $170.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,471,141 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. JMP Securities upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.