Alphabet Inc. (NASDAQ:GOOG) Stock Position Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 646,868 shares of the information services provider’s stock after selling 20,313 shares during the period. Alphabet makes up about 1.1% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Mutual of America Capital Management LLC’s holdings in Alphabet were worth $98,492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter worth approximately $26,000. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet during the fourth quarter valued at about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG traded up $1.07 during trading hours on Tuesday, reaching $191.55. 4,389,849 shares of the company traded hands, compared to its average volume of 20,811,193. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $177.40 and a 200-day moving average price of $157.98. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $192.86. The stock has a market capitalization of $2.37 trillion, a P/E ratio of 29.43, a P/E/G ratio of 1.44 and a beta of 1.05.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,288 shares of company stock valued at $25,345,053. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

About Alphabet

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.