Mizuho Securities USA LLC Has $52.07 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Mizuho Securities USA LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,455 shares of the information services provider’s stock after selling 65,338 shares during the quarter. Alphabet comprises 1.1% of Mizuho Securities USA LLC’s portfolio, making the stock its 10th largest holding. Mizuho Securities USA LLC’s holdings in Alphabet were worth $52,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. M&G PLC bought a new stake in shares of Alphabet in the third quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC raised its stake in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Alphabet by 10.2% in the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after purchasing an additional 5,892 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $177.33 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day simple moving average of $168.65 and a 200 day simple moving average of $171.91. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The firm has a market capitalization of $2.17 trillion, a PE ratio of 23.52, a P/E/G ratio of 1.26 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the firm earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,295 shares of company stock worth $30,698,791. Corporate insiders own 12.99% of the company’s stock.

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.