Maytree Asset Management Ltd Raises Holdings in Alphabet Inc. $GOOGL

Maytree Asset Management Ltd grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 123.7% in the second quarter, HoldingsChannel.com reports. The fund owned 8,500 shares of the information services provider’s stock after acquiring an additional 4,700 shares during the quarter. Alphabet accounts for 2.5% of Maytree Asset Management Ltd’s holdings, making the stock its 7th biggest position. Maytree Asset Management Ltd’s holdings in Alphabet were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Gimbal Financial increased its holdings in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co grew its position in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC grew its position in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares during the period. Bfsg LLC increased its stake in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Finally, Financial Council LLC lifted its position in shares of Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,396 shares of company stock valued at $54,105,275. Insiders own 11.64% of the company’s stock.

Alphabet Stock Down 2.1%

GOOGL stock opened at $278.83 on Friday. The firm has a market capitalization of $3.37 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The stock’s 50 day moving average is $251.23 and its 200-day moving average is $204.19.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CIBC lifted their price target on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. New Street Research upped their price target on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, BNP Paribas Exane boosted their price objective on Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.