Lmcg Investments LLC Has $49.62 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lmcg Investments LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 272,392 shares of the information services provider’s stock after acquiring an additional 3,366 shares during the period. Alphabet accounts for approximately 2.9% of Lmcg Investments LLC’s investment portfolio, making the stock its 4th biggest holding. Lmcg Investments LLC’s holdings in Alphabet were worth $49,616,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOOGL. Harvest Investment Services LLC acquired a new stake in Alphabet in the 4th quarter worth about $214,000. Gold Investment Management Ltd. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $104,000. Dorsey & Whitney Trust CO LLC raised its position in shares of Alphabet by 5.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 86,696 shares of the information services provider’s stock valued at $12,111,000 after buying an additional 4,477 shares in the last quarter. Manhattan West Asset Management LLC grew its position in Alphabet by 45.7% during the fourth quarter. Manhattan West Asset Management LLC now owns 69,743 shares of the information services provider’s stock worth $9,742,000 after buying an additional 21,870 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $89,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Morgan Stanley lowered their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Monday. Finally, Wolfe Research started coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.35.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $165.85 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average price is $162.52 and its 200-day moving average price is $166.84. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 193,725 shares of company stock worth $31,933,031 over the last three months. 11.55% of the stock is currently owned by insiders.

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.