Massmutual Trust Co. FSB ADV Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Massmutual Trust Co. FSB ADV grew its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,036 shares of the information services provider’s stock after acquiring an additional 7,589 shares during the period. Alphabet comprises 1.1% of Massmutual Trust Co. FSB ADV’s portfolio, making the stock its 19th largest holding. Massmutual Trust Co. FSB ADV’s holdings in Alphabet were worth $37,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the second quarter worth about $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth about $40,000. Richardson Financial Services Inc. acquired a new position in Alphabet during the fourth quarter worth about $34,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

Alphabet Trading Down 0.7 %

NASDAQ GOOG opened at $167.31 on Thursday. The company’s fifty day simple moving average is $163.57 and its 200-day simple moving average is $168.50. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.07 trillion, a P/E ratio of 25.66, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock valued at $35,922,911 over the last ninety days. Corporate insiders own 12.99% 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.