MassMutual Private Wealth & Trust FSB raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,020 shares of the information services provider's stock after purchasing an additional 3,556 shares during the period. Alphabet accounts for 1.2% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 18th biggest position. MassMutual Private Wealth & Trust FSB's holdings in Alphabet were worth $43,819,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC lifted its holdings 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 worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet in the first quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the first quarter valued at about $32,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet in the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in shares of Alphabet in the first quarter valued at about $34,000. 27.26% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
GOOG has been the topic of a number of analyst reports. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. UBS Group boosted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial reiterated an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $227.56.
Check Out Our Latest Research Report on GOOG
Alphabet Price Performance
Shares of NASDAQ GOOG opened at $251.76 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $252.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company's 50-day moving average is $204.16 and its 200 day moving average is $179.48. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.62 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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