Calton & Associates Inc. Has $948,000 Position in Alphabet Inc. $GOOG

Key Points

• Calton & Associates Inc. increased its holdings in Alphabet Inc. by 32.8% to a total of 6,070 shares, valued at approximately $948,000.
• Alphabet recently reported earnings of $2.31 EPS for the last quarter, exceeding estimates and showcasing a revenue of $96.43 billion, up 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, representing an annualized yield of 0.4%.

Calton & Associates Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 32.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,070 shares of the information services provider's stock after purchasing an additional 1,500 shares during the quarter. Calton & Associates Inc.'s holdings in Alphabet were worth $948,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alphabet by 2.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Alphabet by 5.0% during the 4th quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock valued at $5,870,944,000 after acquiring an additional 1,467,805 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG traded up $19.11 on Wednesday, reaching $231.10. The company had a trading volume of 70,744,184 shares, compared to its average volume of 23,976,586. Alphabet Inc. has a one year low of $142.66 and a one year high of $231.80. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $193.15 and a 200-day moving average of $175.85. The company has a market capitalization of $2.79 trillion, a P/E ratio of 24.61, a PEG ratio of 1.44 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Finally, KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,210 shares of company stock valued at $41,742,155 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

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.