Cardinal Capital Management Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Cardinal Capital Management raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,310 shares of the information services provider’s stock after buying an additional 220 shares during the period. Cardinal Capital Management’s holdings in Alphabet were worth $2,017,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $26,000. Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $157.50.

Alphabet Stock Performance

Shares of GOOG stock opened at $159.19 on Friday. The business’s fifty day simple moving average is $146.51 and its 200-day simple moving average is $141.11. The company has a market cap of $1.98 trillion, a PE ratio of 27.45, a PEG ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares in the company, valued at $341,163,148.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,539 shares of company stock valued at $35,906,259. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.