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MBL Wealth LLC Boosts Stock Position in Alphabet Inc. $GOOGL

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Key Points

  • MBL Wealth LLC raised its stake in Alphabet by 9.4% in Q4 to 24,918 shares, worth about $7.80 million, making GOOGL its 29th largest holding (~0.6% of the firm's portfolio).
  • Berkshire Hathaway initiated a large new position in Alphabet (~$4.34 billion), and several other institutions (Capital World, Capital Research, Mizuho, Coatue) materially increased holdings; hedge funds and institutional investors now own about 40.03% of the company.
  • Analysts give Alphabet a consensus rating of "Moderate Buy" with a $368.25 target; the company recently beat quarterly estimates (EPS $2.82 vs. $2.57, revenue $113.83B vs. $111.24B) and pays a $0.21 quarterly dividend ($0.84 annualized, ~0.2% yield).
  • MarketBeat previews top five stocks to own in May.

MBL Wealth LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,918 shares of the information services provider's stock after purchasing an additional 2,143 shares during the quarter. Alphabet makes up approximately 0.6% of MBL Wealth LLC's holdings, making the stock its 29th largest holding. MBL Wealth LLC's holdings in Alphabet were worth $7,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Berkshire Hathaway Inc purchased a new stake in Alphabet during the 3rd quarter worth about $4,338,397,000. Capital World Investors increased its position in Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Capital Research Global Investors increased its position in Alphabet by 15.7% during the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after purchasing an additional 6,874,381 shares in the last quarter. Mizuho Markets Cayman LP increased its position in Alphabet by 23,402.1% during the 3rd quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock worth $1,487,419,000 after purchasing an additional 6,092,513 shares in the last quarter. Finally, Coatue Management LLC increased its position in Alphabet by 259.1% during the 3rd quarter. Coatue Management LLC now owns 7,221,115 shares of the information services provider's stock worth $1,755,453,000 after purchasing an additional 5,210,434 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GOOGL shares. UBS Group set a $348.00 price target on Alphabet and gave the company a "neutral" rating in a report on Thursday, February 5th. Wolfe Research lowered their price target on Alphabet from $390.00 to $360.00 and set an "outperform" rating for the company in a report on Friday, April 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $370.00 price target on shares of Alphabet in a report on Wednesday, April 8th. Tigress Financial set a $415.00 price target on Alphabet and gave the company a "strong-buy" rating in a report on Thursday, February 19th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $385.00 price target on shares of Alphabet in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.25.

Check Out Our Latest Research Report on GOOGL

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares in the company, valued at $1,405,091.71. This represents a 18.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,069,794 shares of company stock valued at $104,854,147. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $341.68 on Friday. The firm has a market capitalization of $4.13 trillion, a P/E ratio of 31.61, a P/E/G ratio of 2.07 and a beta of 1.12. Alphabet Inc. has a 1-year low of $146.10 and a 1-year high of $349.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The business's 50-day simple moving average is $306.82 and its 200-day simple moving average is $301.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet's payout ratio is currently 7.77%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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