Alphabet Inc. $GOOGL is CV Advisors LLC's 7th Largest Position

Key Points

• CV Advisors LLC has increased its stake in Alphabet Inc. by 2.0%, now holding 77,707 shares, which makes it the firm’s 7th largest position with a valuation of approximately $13.7 million.
• Alphabet reported earnings of $2.31 per share for the quarter, surpassing analysts' expectations of $2.15, along with a revenue of $96.43 billion.
• Insider trades reveal that Alphabet executives sold shares recently, with CAO Amie Thuener O'toole selling 2,778 shares and CEO Sundar Pichai selling 32,500 shares, indicating a significant level of insider activity.

CV Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,707 shares of the information services provider's stock after buying an additional 1,494 shares during the quarter. Alphabet comprises approximately 4.2% of CV Advisors LLC's investment portfolio, making the stock its 7th biggest holding. CV Advisors LLC's holdings in Alphabet were worth $13,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the first quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $251.69 on Thursday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $257.33. 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 firm has a 50-day simple moving average of $234.60 and a 200-day simple moving average of $193.72. The company has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOGL shares. Barclays upped their price target on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. CIBC lifted their target price on Alphabet to $315.00 in a report on Monday. Roth Capital increased their price target on Alphabet from $210.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Finally, Truist Financial boosted their price objective on Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $259.12.

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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