Cora Capital Advisors LLC Has $1.01 Million Position in Alphabet Inc. $GOOG

Cora Capital Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,683 shares of the information services provider’s stock after selling 551 shares during the period. Cora Capital Advisors LLC’s holdings in Alphabet were worth $1,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BostonPremier Wealth LLC raised its holdings in Alphabet by 9.9% during the 2nd quarter. BostonPremier Wealth LLC now owns 7,774 shares of the information services provider’s stock worth $1,379,000 after buying an additional 701 shares during the period. Santori & Peters Inc. acquired a new position in shares of Alphabet in the second quarter valued at approximately $205,000. Affinity Wealth Management LLC increased its position in shares of Alphabet by 12.3% during the second quarter. Affinity Wealth Management LLC now owns 1,820 shares of the information services provider’s stock worth $323,000 after acquiring an additional 200 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of Alphabet by 3.5% during the second quarter. North Star Investment Management Corp. now owns 31,067 shares of the information services provider’s stock worth $5,511,000 after acquiring an additional 1,064 shares during the period. Finally, Harrell Investment Partners LLC lifted its position in Alphabet by 160.0% in the 2nd quarter. Harrell Investment Partners LLC now owns 14,646 shares of the information services provider’s stock valued at $2,598,000 after acquiring an additional 9,013 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 in the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.35.

Alphabet Stock Down 0.5%

NASDAQ:GOOG opened at $246.57 on Friday. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock’s 50 day moving average price is $215.38 and its two-hundred day moving average price is $183.72.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the business earned $1.89 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.