Mccarter Private Wealth Services LLC Takes $2.62 Million Position in Alphabet Inc. $GOOG

Key Points

• Mccarter Private Wealth Services LLC has acquired a new stake in Alphabet Inc., purchasing 16,753 shares valued at approximately $2.62 million, making it the firm's 21st largest holding.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, surpassing analysts' expectations of $2.12 and exceeding last year's EPS of $1.89.
• The company declared a quarterly dividend of $0.21, scheduled for payment on September 15th, with a dividend yield of 0.4%.

Mccarter Private Wealth Services LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,753 shares of the information services provider's stock, valued at approximately $2,617,000. Alphabet comprises approximately 1.7% of Mccarter Private Wealth Services LLC's holdings, making the stock its 21st biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alphabet by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Alphabet by 5.0% in the fourth quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock valued at $5,870,944,000 after purchasing an additional 1,467,805 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2%

GOOG stock opened at $200.62 on Friday. The company has a market cap of $2.43 trillion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.35 and a beta of 1.02. 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 $142.66 and a 12 month high of $208.70. The firm has a 50-day moving average of $187.09 and a two-hundred day moving average of $174.87.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOG. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,719 shares of company stock worth $47,223,172. Corporate 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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