M&R Capital Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 126,832 shares of the information services provider’s stock after selling 929 shares during the quarter. Alphabet accounts for about 4.6% of M&R Capital Management Inc.’s portfolio, making the stock its 4th biggest holding. M&R Capital Management Inc.’s holdings in Alphabet were worth $21,035,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Capital Research Global Investors boosted its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. boosted its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Wulff Hansen & CO. boosted its position in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. boosted its position in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Alphabet by 91.0% during the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after purchasing an additional 3,777,527 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GOOGL shares. TD Securities raised their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday. Royal Bank of Canada lifted their price target on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets dropped their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.95.
Alphabet Price Performance
Shares of GOOGL opened at $163.24 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The business has a 50-day simple moving average of $161.37 and a two-hundred day simple moving average of $167.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.02 trillion, a PE ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 EPS. Analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,092 shares of company stock worth $35,644,136. Insiders own 11.55% of the company’s stock.
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.
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