Mesirow Financial Investment Management Inc. Has $106.54 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Mesirow Financial Investment Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 580,758 shares of the information services provider’s stock after selling 608 shares during the period. Alphabet accounts for about 2.4% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 8th biggest position. Mesirow Financial Investment Management Inc.’s holdings in Alphabet were worth $106,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOOG. Gilbert & Cook Inc. grew its position in shares of Alphabet by 15.5% during the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares during the period. Concentrum Wealth Management grew its holdings in Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC grew its holdings in Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 154 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Alphabet during the fourth quarter valued at approximately $620,000. Finally, Paragon Private Wealth Management LLC grew its holdings in Alphabet by 9.4% during the fourth quarter. Paragon Private Wealth Management LLC now owns 1,716 shares of the information services provider’s stock valued at $242,000 after purchasing an additional 148 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock worth $34,341,581 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Stock Performance

Shares of GOOG stock opened at $158.99 on Tuesday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.13 and a beta of 1.04. The company has a 50-day simple moving average of $168.43 and a 200 day simple moving average of $166.48. 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 issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 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.