Alphabet Inc. (NASDAQ:GOOG) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,282 shares of the information services provider’s stock after selling 689 shares during the quarter. Alphabet makes up 2.0% of M&R Capital Management Inc.’s holdings, making the stock its 13th biggest position. M&R Capital Management Inc.’s holdings in Alphabet were worth $9,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GOOG. Global Wealth Strategies & Associates boosted its position in Alphabet by 21.4% during the third quarter. Global Wealth Strategies & Associates now owns 1,020 shares of the information services provider’s stock worth $171,000 after acquiring an additional 180 shares during the last quarter. Mattson Financial Services LLC acquired a new position in Alphabet during the second quarter worth about $7,594,000. Ashburton Jersey Ltd acquired a new position in Alphabet during the second quarter worth about $23,681,000. Alternative Investment Advisors LLC. acquired a new position in Alphabet during the second quarter worth about $216,000. Finally, Centaurus Financial Inc. boosted its position in Alphabet by 111.0% during the second quarter. Centaurus Financial Inc. now owns 69,259 shares of the information services provider’s stock worth $12,704,000 after acquiring an additional 36,439 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Pivotal Research started coverage on shares of Alphabet in a report on Tuesday. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

Alphabet Price Performance

Alphabet stock opened at $167.31 on Thursday. The company’s 50 day simple moving average is $163.57 and its 200-day simple moving average is $168.50. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced 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 net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,592 shares of company stock worth $35,922,911. Corporate insiders own 12.99% of the company’s stock.

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.