Alphabet Inc. (NASDAQ:GOOGL) is M&R Capital Management Inc.’s 4th Largest Position

M&R Capital Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 126,832 shares of the information services provider’s stock after selling 929 shares during the quarter. Alphabet comprises 4.6% of M&R Capital Management Inc.’s investment portfolio, making the stock its 4th largest position. M&R Capital Management Inc.’s holdings in Alphabet were worth $21,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Capital Research Global Investors raised its stake in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Wulff Hansen & CO. increased its position in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Alphabet by 91.0% during the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $163.24 on Friday. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50-day simple moving average is $161.37 and its two-hundred day simple moving average is $167.75. 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 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 results 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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared 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 was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. 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 business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOGL. Loop Capital reissued a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Argus raised their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI decreased their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. BMO Capital Markets decreased their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.95.

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.