Mutual of America Capital Management LLC Sells 11,756 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mutual of America Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,877 shares of the information services provider’s stock after selling 11,756 shares during the period. Alphabet makes up 1.5% of Mutual of America Capital Management LLC’s holdings, making the stock its 7th largest position. Mutual of America Capital Management LLC’s holdings in Alphabet were worth $138,594,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Warwick Investment Management Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $367,000. Vectors Research Management LLC bought a new position in Alphabet during the fourth quarter valued at about $224,000. Clear Rock Advisors LLC bought a new stake in Alphabet in the fourth quarter worth about $289,000. ORBA Wealth Advisors L.L.C. acquired a new stake in Alphabet in the 4th quarter valued at about $1,172,000. Finally, Sprinkle Financial Consultants LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $696,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Insiders have sold 193,725 shares of company stock worth $31,933,031 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $166.99 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50-day moving average of $162.22 and a two-hundred day moving average of $167.02. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $70.60 billion. During the same period in the previous year, the company earned $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. 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 payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.35.

About Alphabet

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.