McLean Asset Management Corp Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

McLean Asset Management Corp lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,395 shares of the information services provider’s stock after buying an additional 90 shares during the quarter. McLean Asset Management Corp’s holdings in Alphabet were worth $1,315,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. FMR LLC increased its holdings in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. Vanguard Group Inc. lifted its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock opened at $179.63 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a 50 day moving average price of $170.05 and a 200-day moving average price of $152.41. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $180.85. The firm has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GOOGL shares. Susquehanna increased their price objective on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Jefferies Financial Group boosted their price objective on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Loop Capital increased their target price on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird lifted their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.26.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock valued at $22,383,553 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.