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

Caerus Investment Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,715 shares of the information services provider’s stock after acquiring an additional 1,504 shares during the quarter. Alphabet comprises approximately 1.9% of Caerus Investment Advisors LLC’s portfolio, making the stock its 12th biggest holding. Caerus Investment Advisors LLC’s holdings in Alphabet were worth $4,519,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GOOGL. Strategic Wealth Advisors LLC raised its stake in shares of Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC boosted its stake in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after purchasing an additional 27 shares during the period. Ruggaard & Associates LLC boosted its stake in Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after purchasing an additional 27 shares during the period. Cadia Private Client LLC grew its holdings in Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after buying an additional 28 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its holdings in Alphabet by 1.2% during the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider’s stock valued at $680,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $354.30 on Friday. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.33 trillion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. The stock has a 50-day moving average price of $355.68 and a 200-day moving average price of $340.41.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. As a group, equities analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is currently 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders have sold 600,547 shares of company stock valued at $16,255,540 in the last quarter. Insiders own 11.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $445.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Rothschild & Co Redburn upped their target price on shares of Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Oppenheimer increased their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $419.86.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.