CV Advisors LLC Has $1.79 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

CV Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,669 shares of the information services provider’s stock after purchasing an additional 268 shares during the quarter. Alphabet comprises about 0.6% of CV Advisors LLC’s investment portfolio, making the stock its 14th biggest position. CV Advisors LLC’s holdings in Alphabet were worth $1,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter worth $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $166.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a 50-day moving average of $166.40 and a 200-day moving average of $176.33. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.18 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOG shares. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

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.