Capital Management Corp VA Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Capital Management Corp VA increased its stake in Alphabet Inc. by 4.0% during Q1, owning 45,745 shares worth approximately $7.07 million as of its latest SEC filing.
• Institutional investors own 40.03% of Alphabet's stock, with notable stakes from Norges Bank and FMR LLC, which reported holdings worth over $24 billion and $47 billion respectively.
• Alphabet's quarterly earnings surpassed estimates with an EPS of $2.81, and the company is set to pay a quarterly dividend of $0.21 on September 15th.

Capital Management Corp VA boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,745 shares of the information services provider's stock after acquiring an additional 1,766 shares during the quarter. Capital Management Corp VA's holdings in Alphabet were worth $7,074,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Norges Bank bought a new position in shares of Alphabet during the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 0.5%

Shares of Alphabet stock traded up $1.01 on Friday, reaching $193.18. 39,738,342 shares of the company's stock were exchanged, compared to its average volume of 41,427,228. The company has a market capitalization of $2.34 trillion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm's 50-day moving average is $175.77 and its two-hundred day moving average is $172.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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 firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, 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. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 over the last 90 days. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Mizuho decreased their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. DA Davidson lifted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Alphabet from $177.00 to $184.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Needham & Company LLC lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $211.32.

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.