17,702 Shares in Alphabet Inc. $GOOG Bought by MV Capital Management Inc.

MV Capital Management Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,702 shares of the information services provider’s stock, valued at approximately $5,555,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its position in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after acquiring an additional 111,699,704 shares during the period. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at about $18,093,665,000. Cardano Risk Management B.V. raised its holdings in Alphabet by 850.3% in the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after purchasing an additional 15,830,754 shares during the period. Vanguard Group Inc. raised its holdings in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $367.46 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business’s 50 day moving average price is $363.25 and its 200-day moving average price is $330.81. The firm has a market capitalization of $4.45 trillion, a PE ratio of 28.03, a P/E/G ratio of 1.55 and a beta of 1.22. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Truist Financial set a $430.00 price target on shares of Alphabet in a research note on Monday, June 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday, June 1st. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $376.78.

Read Our Latest Stock Report on GOOG

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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