CoreCap Advisors LLC Has $5.33 Million Position in Alphabet Inc. (NASDAQ:GOOG)

CoreCap Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 39.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,011 shares of the information services provider's stock after selling 18,360 shares during the period. CoreCap Advisors LLC's holdings in Alphabet were worth $5,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Alphabet in the 4th quarter valued at approximately $5,166,070,000. Raymond James Financial Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp lifted its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. GQG Partners LLC boosted its holdings in Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 0.5 %

Alphabet stock opened at $165.20 on Wednesday. The company's 50-day moving average price is $161.97 and its two-hundred day moving average price is $177.17. 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 stock has a market cap of $2.00 trillion, a P/E ratio of 20.52, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

Insider Activity

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This represents a 9.64 % 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,824 shares of company stock valued at $25,086,603. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group decreased their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Tigress Financial reissued 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 assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.

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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