MFG Investments LLC Acquires New Holdings in Alphabet Inc. $GOOGL

MFG Investments LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 4,429 shares of the information services provider’s stock, valued at approximately $1,524,000. Alphabet makes up about 1.7% of MFG Investments LLC’s holdings, making the stock its 21st largest position.

Other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Alphabet by 5.6% in the 2nd quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock worth $85,403,303,000 after acquiring an additional 12,718,127 shares in the last quarter. Amundi raised its holdings in shares of Alphabet by 4.6% in the second quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock valued at $11,865,809,000 after purchasing an additional 1,457,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Alphabet by 10.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock valued at $6,334,186,000 after purchasing an additional 1,631,721 shares in the last quarter. Swiss National Bank lifted its position in shares of Alphabet by 7.1% during the first quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Alphabet by 90.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after purchasing an additional 8,112,680 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Top Alphabet Stories

These are some of the GOOGL stories that stood out recently:

• Positive Sentiment: Nvidia CEO Jensen Huang’s reported departure has put a spotlight on alternatives to Nvidia. Alphabet’s expanding TPU business could help it compete for AI workloads and gain market share, while its Google Cloud infrastructure also uses AMD processors. Why Alphabet Stock Was Moving Higher Today
• Positive Sentiment: Recent coverage points to Google Cloud’s growth and Alphabet’s AI investments as potential long-term drivers. Berkshire Hathaway has also built a sizable Alphabet position, buying more than 60 million shares since Greg Abel became CEO, a notable vote of confidence. Warren Buffett’s Successor, Greg Abel, Has Nearly $110 Billion Invested in These 2 Tech Stocks
• Neutral Sentiment: Alphabet is reportedly planning its first Hong Kong- and Singapore-dollar bond sale. The deal could diversify its funding, though investors may also watch how borrowing fits with already elevated AI infrastructure spending. Alphabet Eyes Bond Sales

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Susquehanna decreased their price objective on shares of Alphabet from $460.00 to $400.00 and set a “positive” rating for the company in a research note on Thursday, October 29th. BMO Capital Markets reissued an “outperform” rating and set a $480.00 target price (up from $465.00) on shares of Alphabet in a research report on Tuesday, October 20th. Pivotal Research reissued a “buy” rating and set a $475.00 target price (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Thursday, October 15th. Five research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $412.51.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 247 shares of company stock worth $79,238. 11.61% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $298.70 on Friday. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61. The firm’s 50-day simple moving average is $329.12 and its two-hundred day simple moving average is $338.21.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). The company had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. As a group, equities analysts forecast that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet’s dividend payout ratio is currently 4.59%.

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.