Reynders McVeigh Capital Management LLC Has $33.34 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Reynders McVeigh Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 175,067 shares of the information services provider’s stock after selling 1,061 shares during the period. Alphabet accounts for approximately 1.8% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 20th largest position. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $33,340,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the period. Morse Asset Management Inc bought a new stake in Alphabet in the third quarter valued at $166,000. McIlrath & Eck LLC raised its holdings in shares of Alphabet by 12.9% during the third quarter. McIlrath & Eck LLC now owns 13,575 shares of the information services provider’s stock valued at $2,270,000 after purchasing an additional 1,546 shares during the period. Passumpsic Savings Bank bought a new position in shares of Alphabet during the 3rd quarter worth about $263,000. Finally, Advisory Resource Group grew its stake in shares of Alphabet by 8.7% in the 3rd quarter. Advisory Resource Group now owns 10,277 shares of the information services provider’s stock valued at $1,718,000 after buying an additional 822 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 2.6 %

Shares of GOOG opened at $159.40 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a 50 day moving average price of $170.50 and a 200-day moving average price of $177.89. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOG shares. Oppenheimer increased their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank increased their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $208.71.

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.