CoreCap Advisors Llc invested $4.73 million in Alphabet Inc. (NASDAQ:GOOG)

CoreCap Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,775 shares of the information services provider’s stock, valued at approximately $4,728,000.

A number of other large investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter valued at about $37,000. Richardson Financial Services Inc. purchased a new position in Alphabet in the fourth quarter valued at about $34,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter valued at about $44,000. Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet in the second quarter valued at $48,000. 27.26% of the shares are held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

GOOG has been the subject of several recent analyst reports. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $182.86, according to data from MarketBeat.

Get the latest stock report on Alphabet

Alphabet trading up 1.8%

NASDAQ GOOG opened at $158.37 on Friday. The company’s fifty day moving average is $169.06 and its two hundred day moving average is $166.15. Alphabet Inc. it has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08. The firm has a market cap of $1.95 trillion, a PE ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% year over year. In the same period last year, the company earned $1.44 per share. Analysts expect Alphabet Inc. to record 7.63 earnings per share for the current year.

Alphabet announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider buying and selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold 201,867 shares of company stock worth $34,218,581 over the last ninety days. Corporate insiders own 12.99% of the company’s shares.

Alphabet Company Profile

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

Featured stories

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