Cheviot Value Management LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cheviot Value Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 221.9% during the first quarter, HoldingsChannel reports. The firm owned 4,298 shares of the information services provider’s stock after purchasing an additional 2,963 shares during the quarter. Cheviot Value Management LLC’s holdings in Alphabet were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter worth about $26,000. LSV Asset Management purchased a new position in shares of Alphabet during the fourth quarter worth about $27,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter worth about $32,000. Finally, Graybill Wealth Management LTD. purchased a new position in shares of Alphabet during the first quarter worth about $44,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 400 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company’s stock, valued at $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock valued at $43,525,794 over the last quarter. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOG shares. UBS Group boosted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.19.

Alphabet Stock Performance

NASDAQ:GOOG opened at $189.95 on Friday. The firm has a market cap of $2.31 trillion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business has a 50 day moving average price of $179.37 and a 200-day moving average price of $174.53.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid 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 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.