Cape Investment Advisory Inc. Sells 2,890 Shares of Alphabet Inc. $GOOG

Cape Investment Advisory Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,311 shares of the information services provider’s stock after selling 2,890 shares during the period. Cape Investment Advisory Inc.’s holdings in Alphabet were worth $1,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFS Advisors LLC increased its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC raised its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, University of Illinois Foundation purchased a new stake in Alphabet in the second quarter worth about $31,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Cowen restated a “buy” rating on shares of Alphabet in a report on Friday. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a report on Monday, November 24th. Truist Financial set a $350.00 price objective on Alphabet in a research note on Friday, December 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $313.04.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Friday. The company has a fifty day moving average of $283.75 and a 200 day moving average of $230.33. The company has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director directly owned 18,104 shares in the company, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 228,906 shares of company stock worth $62,127,158 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.