Alphabet Inc. (NASDAQ:GOOG) Position Lowered by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Alphabet Inc. by 3.6% in the first quarter, holding 549,669 shares worth approximately $85.88 million, making it the firm's 10th largest position.
• Despite some analysts issuing a "sell" rating, 17 out of 31 analysts rated Alphabet as a "buy," with the stock having a consensus rating of "Moderate Buy" and an average price target of $215.19.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annualized total of $0.84 and a yield of 0.4%, with an upcoming payout date of September 15th.

Mutual of America Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 549,669 shares of the information services provider's stock after selling 20,385 shares during the quarter. Alphabet makes up about 1.0% of Mutual of America Capital Management LLC's investment portfolio, making the stock its 10th largest position. Mutual of America Capital Management LLC's holdings in Alphabet were worth $85,875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 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 valued at $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $26,000. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at about $53,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on 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 sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,219 shares of company stock worth $49,474,273. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Alphabet stock traded up $0.36 during trading on Thursday, reaching $197.28. The company had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. The firm's 50-day simple moving average is $181.28 and its 200 day simple moving average is $174.68. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.39 trillion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly 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 $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Scotiabank increased 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. Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price objective (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.