Mutual of America Capital Management LLC Decreases Stake in Alphabet Inc. $GOOGL

Mutual of America Capital Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 707,418 shares of the information services provider’s stock after selling 6,779 shares during the period. Alphabet makes up about 1.3% of Mutual of America Capital Management LLC’s holdings, making the stock its 8th biggest holding. Mutual of America Capital Management LLC’s holdings in Alphabet were worth $124,668,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. Nuveen LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Amundi boosted its stake in shares of Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after buying an additional 2,565,400 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.7%

Shares of NASDAQ GOOGL opened at $267.47 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $270.73. The firm has a market capitalization of $3.23 trillion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. The firm has a fifty day simple moving average of $239.35 and a two-hundred day simple moving average of $197.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Citizens Jmp upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. CIBC upped their price target on shares of Alphabet to $315.00 in a report on Monday, October 20th. Finally, HSBC started coverage on shares of Alphabet in a report on Tuesday, October 7th. They set a “buy” rating and a $285.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $264.34.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction 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. The trade was a 35.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by corporate 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.