NCM Capital Management LLC Grows Stock Position in Alphabet Inc. $GOOG

NCM Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,802 shares of the information services provider’s stock after purchasing an additional 60 shares during the quarter. NCM Capital Management LLC’s holdings in Alphabet were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the first quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter valued at about $32,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Pivotal Research boosted their price objective on Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.19.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $206.72 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $209.23. The stock’s 50 day simple moving average is $187.71 and its two-hundred day simple moving average is $174.60. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.39 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is 8.95%.

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.