MJP Associates Inc. ADV Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

MJP Associates Inc. ADV lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,741 shares of the information services provider’s stock after purchasing an additional 1,677 shares during the period. MJP Associates Inc. ADV’s holdings in Alphabet were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Veracity Capital LLC boosted its holdings in shares of Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the period. Strategic Blueprint LLC increased its stake in shares of Alphabet by 36.7% during the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after purchasing an additional 4,044 shares during the last quarter. Investment Partners LTD. raised its holdings in shares of Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 410 shares during the period. Finally, Global Trust Asset Management LLC lifted its stake in Alphabet by 4.5% in the fourth quarter. Global Trust Asset Management LLC now owns 14,916 shares of the information services provider’s stock valued at $2,102,000 after purchasing an additional 648 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG traded up $2.55 during trading hours on Friday, reaching $180.26. 59,728,019 shares of the company’s stock traded hands, compared to its average volume of 14,706,858. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $182.51. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.23 trillion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The firm’s 50 day simple moving average is $171.61 and its 200-day simple moving average is $153.96.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock worth $22,383,553 in the last quarter. 12.99% of the stock is owned by insiders.

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.