Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by MIG Capital LLC

MIG Capital LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 34.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,288 shares of the information services provider’s stock after buying an additional 53,619 shares during the period. Alphabet comprises 4.1% of MIG Capital LLC’s investment portfolio, making the stock its 10th biggest holding. MIG Capital LLC’s holdings in Alphabet were worth $39,857,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after buying an additional 1,219,606 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after purchasing an additional 875,480 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $5,166,070,000. Principal Financial Group Inc. boosted its position in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Alphabet by 1.7% in the fourth quarter. Swedbank AB now owns 8,483,070 shares of the information services provider’s stock valued at $1,615,516,000 after buying an additional 144,170 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 3.2 %

NASDAQ:GOOG opened at $147.74 on Friday. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 18.35, a P/E/G ratio of 1.34 and a beta of 1.04. The business has a 50 day simple moving average of $177.04 and a 200 day simple moving average of $178.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12-month low of $147.54 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOOG shares. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.65.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.