Capital Advantage Inc. Acquires 1,292 Shares of Alphabet Inc. $GOOG

Key Points

• Capital Advantage Inc. has increased its stake in Alphabet Inc. by 63.4%, now holding 3,330 shares valued at approximately $591,000.
• Alphabet's recent earnings report showed an EPS of $2.31, exceeding estimates of $2.12, along with a 13.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.21, resulting in an annualized dividend yield of 0.3%, with a payout ratio of 8.95%.

Capital Advantage Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 63.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,330 shares of the information services provider's stock after buying an additional 1,292 shares during the quarter. Capital Advantage Inc.'s holdings in Alphabet were worth $591,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its position in 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 buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG stock traded down $2.36 on Monday, hitting $252.88. 20,038,778 shares of the stock traded hands, compared to its average volume of 25,284,148. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.72 and a beta of 1.01. The firm has a 50 day simple moving average of $211.48 and a two-hundred day simple moving average of $182.24. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $230.35.

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.