Capital Market Strategies LLC Has $1.80 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Capital Market Strategies LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,877 shares of the information services provider’s stock after selling 271 shares during the quarter. Alphabet makes up 1.1% of Capital Market Strategies LLC’s investment portfolio, making the stock its 16th largest holding. Capital Market Strategies LLC’s holdings in Alphabet were worth $1,804,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $163.24 on Monday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm’s fifty day moving average is $161.37 and its 200-day moving average is $167.86. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the business posted $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. Morgan Stanley decreased their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Citigroup upped their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Monday, October 7th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Finally, Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.95.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by corporate 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.