MGO One Seven LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

MGO One Seven LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,797 shares of the information services provider’s stock after acquiring an additional 13,113 shares during the quarter. Alphabet comprises about 0.7% of MGO One Seven LLC’s investment portfolio, making the stock its 17th biggest holding. MGO One Seven LLC’s holdings in Alphabet were worth $18,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter worth $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.7 %

Alphabet stock opened at $153.90 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50 day moving average price is $165.77 and its 200-day moving average price is $177.32. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market cap of $1.88 trillion, a P/E ratio of 19.12, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday. UBS Group dropped their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.38.

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.