CV Advisors LLC Purchases 268 Shares of Alphabet Inc. (NASDAQ:GOOG)

CV Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the 1st quarter, HoldingsChannel reports. The fund owned 11,669 shares of the information services provider’s stock after purchasing an additional 268 shares during the quarter. Alphabet accounts for about 0.6% of CV Advisors LLC’s investment portfolio, making the stock its 14th largest holding. CV Advisors LLC’s holdings in Alphabet were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOG. Ethos Financial Group LLC increased its stake in shares of Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after buying an additional 53 shares during the period. Hutchinson Capital Management CA boosted its stake in Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC boosted its holdings in Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock worth $1,227,000 after acquiring an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. grew its position in Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock worth $3,043,000 after purchasing an additional 56 shares during the last quarter. Finally, Concentrum Wealth Management raised its stake in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock worth $3,300,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $166.01 on Tuesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a market cap of $2.01 trillion, a PE ratio of 18.51, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $166.40 and a 200 day moving average price of $176.33.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.88.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,070 shares of company stock valued at $37,745,632. 12.99% of the stock is currently owned by company 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.