Cary Street Partners Investment Advisory LLC Purchases 105 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cary Street Partners Investment Advisory LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,791 shares of the information services provider’s stock after buying an additional 105 shares during the period. Alphabet comprises approximately 1.1% of Cary Street Partners Investment Advisory LLC’s holdings, making the stock its 18th largest holding. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $1,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Nia Impact Advisors LLC boosted its position in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after purchasing an additional 59 shares during the last quarter. Hanlon Investment Management Inc. raised its stake in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after buying an additional 60 shares during the period. Enzi Wealth raised its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock worth $817,000 after buying an additional 67 shares during the period. Finally, Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock worth $1,086,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $201.00 on Tuesday. 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 stock has a fifty day simple moving average of $181.53 and a 200 day simple moving average of $172.81. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,219 shares of company stock valued at $49,674,273. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. DA Davidson raised their price objective on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Royal Bank Of Canada raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Tigress Financial boosted their price target on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Guggenheim boosted their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.53.

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.