Capital Advantage Inc. Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Capital Advantage Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,038 shares of the information services provider’s stock, valued at approximately $388,000.

Other large investors also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.1 %

Shares of NASDAQ GOOG opened at $166.05 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The business has a fifty day simple moving average of $162.07 and a two-hundred day simple moving average of $177.25. The firm has a market cap of $2.02 trillion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,824 shares of company stock valued at $25,086,603 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC cut shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday. UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

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.