Capital Asset Advisory Services LLC Boosts Stock Position in Alphabet Inc. $GOOG

Capital Asset Advisory Services LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,255 shares of the information services provider’s stock after purchasing an additional 454 shares during the period. Capital Asset Advisory Services LLC’s holdings in Alphabet were worth $8,714,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. Nuveen LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $2,622,943,000. GAMMA Investing LLC increased its holdings in shares of Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet in the 4th quarter worth $786,942,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.2%

GOOG opened at $241.38 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50 day simple moving average is $202.67 and its two-hundred day simple moving average is $178.86. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company’s stock, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOG shares. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $227.56.

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.