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

CV Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 79.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,401 shares of the information services provider’s stock after purchasing an additional 5,061 shares during the quarter. Alphabet accounts for 0.7% of CV Advisors LLC’s portfolio, making the stock its 14th largest position. CV Advisors LLC’s holdings in Alphabet were worth $2,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Gitterman Wealth Management LLC grew its position in Alphabet by 2.5% in the fourth quarter. Gitterman Wealth Management LLC now owns 4,604 shares of the information services provider’s stock valued at $877,000 after acquiring an additional 114 shares during the period. Greenwich Wealth Management LLC boosted its holdings in Alphabet by 5.0% in the fourth quarter. Greenwich Wealth Management LLC now owns 10,758 shares of the information services provider’s stock valued at $2,049,000 after acquiring an additional 517 shares during the last quarter. Ninepoint Partners LP boosted its holdings in Alphabet by 632.1% in the fourth quarter. Ninepoint Partners LP now owns 5,242 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 4,526 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Alphabet by 1.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 255,087 shares of the information services provider’s stock valued at $48,579,000 after acquiring an additional 3,411 shares during the last quarter. Finally, Ascent Capital Management LLC bought a new position in Alphabet in the fourth quarter valued at about $701,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,882 shares of company stock worth $17,934,130 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $167.62 on Friday. The stock has a market capitalization of $2.04 trillion, a PE ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. 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 moving average price of $187.41 and a two-hundred day moving average price of $178.00. Alphabet Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research 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 company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet 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.