Mmbg Investment Advisors CO. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,522 shares of the information services provider's stock after selling 6,285 shares during the quarter. Alphabet makes up approximately 6.3% of Mmbg Investment Advisors CO.'s holdings, making the stock its 4th biggest position. Mmbg Investment Advisors CO.'s holdings in Alphabet were worth $59,728,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter worth $49,000. Institutional investors own 40.03% of the company's stock.
Insider Activity
In other news, insider John Kent Walker sold 17,690 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL stock opened at $152.75 on Monday. The business has a 50 day simple moving average of $158.93 and a 200 day simple moving average of $175.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. 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 quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
Several analysts have commented on GOOGL shares. Mizuho decreased their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday. Finally, KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Report on Alphabet
About Alphabet
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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