May Hill Capital LLC Makes New $587,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

May Hill Capital LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel reports. The fund acquired 3,081 shares of the information services provider’s stock, valued at approximately $587,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at approximately $5,166,070,000. Raymond James Financial Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $1,551,533,000. GQG Partners LLC raised its position in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Alphabet by 5,712.8% in the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after acquiring an additional 4,292,689 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Alphabet in the fourth quarter worth $328,018,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,992 shares of company stock valued at $16,093,773. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $156.23 on Tuesday. The stock has a 50 day moving average of $180.70 and a two-hundred day moving average of $178.70. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70. The firm has a market cap of $1.90 trillion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.56.

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.