CoreCap Advisors LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

CoreCap Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,775 shares of the information services provider’s stock, valued at approximately $4,728,000.

Several other institutional investors and hedge funds also recently modified their holdings of GOOG. SYM FINANCIAL Corp raised its holdings in shares of Alphabet by 3,213.3% in the second quarter. SYM FINANCIAL Corp now owns 1,491 shares of the information services provider’s stock worth $274,000 after acquiring an additional 1,446 shares during the last quarter. RS Crum Inc. increased its position in Alphabet by 20.6% during the 2nd quarter. RS Crum Inc. now owns 1,753 shares of the information services provider’s stock worth $322,000 after purchasing an additional 299 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Alphabet by 33.9% in the 2nd quarter. Meeder Advisory Services Inc. now owns 95,976 shares of the information services provider’s stock valued at $17,604,000 after purchasing an additional 24,311 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Alphabet by 9.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 347,835 shares of the information services provider’s stock valued at $63,800,000 after purchasing an additional 29,126 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC boosted its stake in shares of Alphabet by 14.2% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 3,173 shares of the information services provider’s stock worth $582,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOG. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Finally, TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

NASDAQ GOOG opened at $158.37 on Friday. The business’s 50-day simple moving average is $169.06 and its 200-day simple moving average is $166.15. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock worth $34,218,581 in the last 90 days. 12.99% of the stock is owned by company insiders.

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.