CV Advisors LLC Has $2.17 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

CV Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 79.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,401 shares of the information services provider’s stock after purchasing an additional 5,061 shares during the period. Alphabet comprises about 0.7% of CV Advisors LLC’s portfolio, making the stock its 14th largest holding. CV Advisors LLC’s holdings in Alphabet were worth $2,171,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOG. GPS Wealth Strategies Group LLC raised its stake in shares of Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $927,000. Stevens Capital Management LP raised its stake in shares of Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Alphabet by 44.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,032,476 shares of the information services provider’s stock worth $172,620,000 after purchasing an additional 316,674 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOG. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,882 shares of company stock worth $17,934,130. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.62 on Friday. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $141.13 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day simple moving average of $187.41 and a two-hundred day simple moving average of $178.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results 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%. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.