Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by MayTech Global Investments LLC

MayTech Global Investments LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 262,256 shares of the information services provider’s stock after buying an additional 42,817 shares during the quarter. Alphabet accounts for about 5.8% of MayTech Global Investments LLC’s holdings, making the stock its 6th biggest position. MayTech Global Investments LLC’s holdings in Alphabet were worth $43,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Providence Capital Advisors LLC increased its position in Alphabet by 6.5% in the 3rd quarter. Providence Capital Advisors LLC now owns 92,977 shares of the information services provider’s stock worth $15,545,000 after purchasing an additional 5,644 shares during the last quarter. Stone House Investment Management LLC grew its stake in shares of Alphabet by 4.0% in the 3rd quarter. Stone House Investment Management LLC now owns 2,801 shares of the information services provider’s stock valued at $468,000 after buying an additional 108 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Alphabet in the third quarter worth approximately $237,000. CreativeOne Wealth LLC raised its position in Alphabet by 42.9% during the third quarter. CreativeOne Wealth LLC now owns 19,288 shares of the information services provider’s stock valued at $3,225,000 after acquiring an additional 5,791 shares in the last quarter. Finally, Baupost Group LLC MA raised its position in Alphabet by 37.0% during the third quarter. Baupost Group LLC MA now owns 1,465,588 shares of the information services provider’s stock valued at $245,032,000 after acquiring an additional 396,000 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.1 %

Alphabet stock opened at $170.82 on Thursday. The business has a 50 day moving average price of $169.71 and a two-hundred day moving average price of $171.85. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.