CGN Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

CGN Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,813 shares of the information services provider’s stock after purchasing an additional 1,466 shares during the period. Alphabet comprises 0.8% of CGN Advisors LLC’s portfolio, making the stock its 28th largest position. CGN Advisors LLC’s holdings in Alphabet were worth $8,672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Lantz Financial LLC boosted its position in Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC purchased a new position in Alphabet in the 2nd quarter worth about $218,000. Vista Finance LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $229,000. Wedbush Securities Inc. boosted its holdings in shares of Alphabet by 2.6% during the second quarter. Wedbush Securities Inc. now owns 212,308 shares of the information services provider’s stock worth $38,672,000 after purchasing an additional 5,458 shares during the period. Finally, Choreo LLC grew its stake in Alphabet by 128.0% in the second quarter. Choreo LLC now owns 263,144 shares of the information services provider’s stock valued at $48,138,000 after purchasing an additional 147,747 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. Sanford C. Bernstein boosted their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush increased their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Check Out Our Latest Stock Report on GOOGL

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $198.05 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $184.74 and its 200-day moving average price is $173.33. The firm has a market capitalization of $2.42 trillion, a P/E ratio of 26.27, a P/E/G ratio of 1.26 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by insiders.

Alphabet Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.