Capital Investment Advisors LLC Grows Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Capital Investment Advisors LLC increased its holdings in Alphabet Inc. by 1.8% during the second quarter, now owning 421,276 shares worth approximately $74.2 million.
• Insider transactions included Director John L. Hennessy selling 600 shares for about $149,664 and CEO Sundar Pichai selling 32,500 shares for approximately $7.9 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, resulting in a dividend yield of 0.3% and a payout ratio of about 9%.

Capital Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,276 shares of the information services provider's stock after acquiring an additional 7,474 shares during the period. Alphabet makes up 1.3% of Capital Investment Advisors LLC's portfolio, making the stock its 13th biggest position. Capital Investment Advisors LLC's holdings in Alphabet were worth $74,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the 1st quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $245.35 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The business's 50 day moving average is $221.25 and its two-hundred day moving average is $186.12.

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 (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Finally, Moffett Nathanson upped their target price on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $240.76.

About Alphabet

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.