Capital Asset Advisory Services LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capital Asset Advisory Services LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,917 shares of the information services provider’s stock after buying an additional 1,335 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Alphabet were worth $8,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $3,119,000. Optivise Advisory Services LLC grew its holdings in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the period. Community Bank N.A. grew its holdings in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd grew its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC lifted its position in Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,270 shares of company stock valued at $26,553,563. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $169.03 on Tuesday. 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 company has a 50-day moving average price of $159.18 and a two-hundred day moving average price of $174.53. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Ratings Changes

Several research firms recently commented on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Morgan Stanley reduced their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group reduced their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

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.