Martin Investment Management LLC Acquires 196 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Martin Investment Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 80,885 shares of the information services provider’s stock after acquiring an additional 196 shares during the period. Alphabet comprises approximately 3.3% of Martin Investment Management LLC’s holdings, making the stock its 10th biggest position. Martin Investment Management LLC’s holdings in Alphabet were worth $13,415,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the period. Capital Research Global Investors boosted its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors grew its holdings in Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related 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 value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $172.49 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. The business has a 50 day moving average of $165.61 and a 200-day moving average of $170.22. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.