Cary Street Partners Financial LLC Acquires Shares of 237,516 Alphabet Inc. (NASDAQ:GOOG)

Cary Street Partners Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 237,516 shares of the information services provider's stock, valued at approximately $45,232,000. Alphabet makes up 1.5% of Cary Street Partners Financial LLC's investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Principal Financial Group Inc. increased its position in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Alphabet by 10.9% during the fourth quarter. Nordea Investment Management AB now owns 7,184,399 shares of the information services provider's stock worth $1,384,039,000 after buying an additional 704,875 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Alphabet by 1.8% during the fourth quarter. CWA Asset Management Group LLC now owns 157,998 shares of the information services provider's stock worth $30,089,000 after buying an additional 2,861 shares in the last quarter. Capital Market Strategies LLC lifted its stake in shares of Alphabet by 3.8% in the 4th quarter. Capital Market Strategies LLC now owns 8,624 shares of the information services provider's stock valued at $1,642,000 after acquiring an additional 314 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its holdings in shares of Alphabet by 0.9% during the 4th quarter. Kozak & Associates Inc. now owns 7,372 shares of the information services provider's stock valued at $1,424,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $165.81 on Monday. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.60, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company's 50 day moving average price is $162.25 and its two-hundred day moving average price is $177.25. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOG shares. JPMorgan Chase & Co. upped their target price on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Wedbush reiterated an "outperform" rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $203.94.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction 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 directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,824 shares of company stock valued at $25,086,603. Company insiders own 12.99% of the company's stock.

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.

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