Mutual of America Capital Management LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Mutual of America Capital Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 791,969 shares of the information services provider’s stock after selling 38,298 shares during the quarter. Alphabet accounts for 1.3% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Mutual of America Capital Management LLC’s holdings in Alphabet were worth $110,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after buying an additional 1,302,104 shares in the last quarter. FMR LLC grew its holdings in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. State Street Corp grew its holdings in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Alphabet by 1.3% during the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after buying an additional 1,499,107 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Wolfe Research lifted their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price objective (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Finally, Truist Financial lifted their price objective on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Alphabet Trading Up 0.7 %

Shares of NASDAQ:GOOGL opened at $155.47 on Thursday. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The company has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a PEG ratio of 1.43 and a beta of 1.05. The business has a 50 day moving average of $145.95 and a two-hundred day moving average of $140.29. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the prior year, the company posted $1.05 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last three months. 0.88% of the stock is currently owned by company insiders.

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.