Morton Capital Management LLC CA Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Morton Capital Management LLC CA increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.1% in the third quarter, Holdings Channel reports. The institutional investor owned 10,396 shares of the information services provider’s stock after acquiring an additional 951 shares during the quarter. Alphabet accounts for about 0.3% of Morton Capital Management LLC CA’s portfolio, making the stock its 26th largest position. Morton Capital Management LLC CA’s holdings in Alphabet were worth $1,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Capital International Investors grew its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors lifted its stake in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Alphabet by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after buying an additional 636,008 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOG. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. UBS Group dropped their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $184.11.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of GOOG stock opened at $162.75 on Thursday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm has a 50-day moving average price of $163.07 and a 200 day moving average price of $169.07. The company has a market capitalization of $2.01 trillion, a P/E ratio of 25.01, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the business posted $1.44 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.