Mutual of America Capital Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Mutual of America Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 714,197 shares of the information services provider's stock after selling 22,429 shares during the quarter. Alphabet makes up approximately 1.3% of Mutual of America Capital Management LLC's investment portfolio, making the stock its 8th largest holding. Mutual of America Capital Management LLC's holdings in Alphabet were worth $110,443,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOGL. BankPlus Trust Department grew its stake in shares of Alphabet by 12.5% in the first quarter. BankPlus Trust Department now owns 4,012 shares of the information services provider's stock valued at $620,000 after acquiring an additional 445 shares in the last quarter. Arizona State Retirement System grew its stake in Alphabet by 1.6% during the first quarter. Arizona State Retirement System now owns 1,732,120 shares of the information services provider's stock worth $267,855,000 after buying an additional 27,213 shares in the last quarter. Realta Investment Advisors grew its stake in Alphabet by 7.8% during the first quarter. Realta Investment Advisors now owns 12,218 shares of the information services provider's stock worth $1,889,000 after buying an additional 886 shares in the last quarter. Nikulski Financial Inc. grew its stake in Alphabet by 1.2% during the first quarter. Nikulski Financial Inc. now owns 58,537 shares of the information services provider's stock worth $9,052,000 after buying an additional 682 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its stake in Alphabet by 23.3% during the first quarter. Kathmere Capital Management LLC now owns 10,506 shares of the information services provider's stock worth $1,625,000 after buying an additional 1,987 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the 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 transaction, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 in the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $0.96 during trading on Friday, hitting $203.90. 34,909,706 shares of the stock were exchanged, compared to its average volume of 37,799,464. The company has a fifty day moving average price of $184.25 and a two-hundred day moving average price of $173.20. The company has a market cap of $2.47 trillion, a PE ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. 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 $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Guggenheim raised their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Rosenblatt Securities lifted their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Roth Capital boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JMP Securities boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Finally, Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Profile

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.