Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,102 shares of the information services provider’s stock after selling 2,913 shares during the period. Alphabet accounts for approximately 1.3% of New York Life Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. New York Life Investment Management LLC’s holdings in Alphabet were worth $131,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. FMR LLC grew its position in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Alphabet by 182.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares in the last quarter. Jennison Associates LLC grew its position in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Finally, National Pension Service grew its position in Alphabet by 14.0% during the 3rd quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock worth $1,655,772,000 after purchasing an additional 1,218,671 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,942 shares of company stock valued at $24,824,539 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $172.22 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $192.17 and a 200-day simple moving average of $177.84. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Company 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.