MV Capital Management Inc. Sells 364 Shares of Alphabet Inc. $GOOG

MV Capital Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,276 shares of the information services provider’s stock after selling 364 shares during the period. MV Capital Management Inc.’s holdings in Alphabet were worth $2,710,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Legacy Capital Wealth Partners LLC lifted its holdings in shares of Alphabet by 11.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 4,030 shares of the information services provider’s stock worth $630,000 after acquiring an additional 411 shares during the period. Litman Gregory Wealth Management LLC lifted its holdings in shares of Alphabet by 6.2% during the 1st quarter. Litman Gregory Wealth Management LLC now owns 70,846 shares of the information services provider’s stock worth $11,068,000 after acquiring an additional 4,111 shares during the period. Dynasty Wealth Management LLC boosted its position in shares of Alphabet by 1.2% during the 1st quarter. Dynasty Wealth Management LLC now owns 22,395 shares of the information services provider’s stock valued at $3,499,000 after acquiring an additional 261 shares in the last quarter. Finally, Woodward Diversified Capital LLC increased its stake in Alphabet by 4.1% in the first quarter. Woodward Diversified Capital LLC now owns 8,341 shares of the information services provider’s stock valued at $1,303,000 after acquiring an additional 331 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock valued at $53,983,001 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Oppenheimer raised their price target on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group increased their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Rosenblatt Securities set a $279.00 price target on Alphabet in a research note on Thursday, October 30th. Finally, TD Cowen increased their price objective on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Price Performance

Shares of GOOG stock opened at $279.12 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $257.00 and its 200-day moving average is $208.69. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the business posted $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.