Alphabet Inc. $GOOGL Stake Lessened by MJP Associates Inc. ADV

MJP Associates Inc. ADV trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,795 shares of the information services provider’s stock after selling 1,084 shares during the quarter. Alphabet makes up 0.7% of MJP Associates Inc. ADV’s portfolio, making the stock its 23rd biggest position. MJP Associates Inc. ADV’s holdings in Alphabet were worth $4,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Smart Money Group LLC raised its position in shares of Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after acquiring an additional 532 shares in the last quarter. United Bank lifted its stake in Alphabet by 2.1% during the first quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after purchasing an additional 910 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its holdings in Alphabet by 0.8% in the first quarter. WESPAC Advisors SoCal LLC now owns 74,594 shares of the information services provider’s stock worth $11,535,000 after purchasing an additional 560 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 225,072 shares of company stock valued at $58,074,027. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $319.95 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $267.94 and a 200 day simple moving average of $217.64.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Ratings Changes

A number of analysts have weighed in on GOOGL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. President Capital increased their price objective on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a report on Thursday, October 30th. Susquehanna upped their target price on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, October 30th. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

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.