MayTech Global Investments LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

MayTech Global Investments LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 91,616 shares of the information services provider’s stock after selling 134 shares during the period. Alphabet accounts for approximately 2.0% of MayTech Global Investments LLC’s holdings, making the stock its 18th biggest holding. MayTech Global Investments LLC’s holdings in Alphabet were worth $17,343,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GOOGL. FMR LLC lifted its stake in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors raised its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp lifted its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now directly owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 in the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Trading Up 3.7%

GOOGL opened at $158.46 on Tuesday. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a 50-day simple moving average of $158.63 and a 200 day simple moving average of $175.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the firm posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.53%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Westpark Capital restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, UBS Group set a $195.00 price objective on shares of Alphabet in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

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.