May Hill Capital LLC Has $877,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

May Hill Capital LLC grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 82.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,614 shares of the information services provider's stock after purchasing an additional 2,533 shares during the period. May Hill Capital LLC's holdings in Alphabet were worth $877,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at $26,000. LSV Asset Management acquired a new position in shares of Alphabet during the fourth quarter valued at $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.38.

Alphabet Price Performance

NASDAQ:GOOG opened at $177.56 on Tuesday. The company has a market cap of $2.15 trillion, a P/E ratio of 19.79, a P/E/G ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock's 50-day simple moving average is $170.28 and its 200 day simple moving average is $175.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is presently 9.36%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. Insiders own 12.99% of the company's stock.

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.

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