Alphabet Inc. (NASDAQ:GOOG) is Core Alternative Capital's 4th Largest Position

Core Alternative Capital cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,389 shares of the information services provider's stock after selling 3,357 shares during the quarter. Alphabet accounts for approximately 3.2% of Core Alternative Capital's holdings, making the stock its 4th largest position. Core Alternative Capital's holdings in Alphabet were worth $13,184,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC raised its holdings 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 purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter worth approximately $26,000. LSV Asset Management bought a new stake in Alphabet in the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $38,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. 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, five have assigned a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.3%

Shares of GOOG stock opened at $180.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company's fifty day moving average price is $169.97 and its 200-day moving average price is $175.49. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company 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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