CV Advisors LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

CV Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,847 shares of the information services provider’s stock after buying an additional 18,133 shares during the period. Alphabet accounts for about 4.6% of CV Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. CV Advisors LLC’s holdings in Alphabet were worth $13,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bennett Selby Investments LP grew its stake in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in shares of Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares during the last quarter. Finally, Addison Advisors LLC raised its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,812 shares of company stock valued at $19,336,979 over the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 1.7 %

Shares of Alphabet stock opened at $162.24 on Friday. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $180.49 and its 200 day moving average is $176.68. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Wedbush upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.59.

About Alphabet

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.