Mutual of America Capital Management LLC Has $95.49 Million Position in Alphabet Inc. $GOOG

Mutual of America Capital Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the second quarter, Holdings Channel.com reports. The firm owned 538,313 shares of the information services provider’s stock after selling 11,356 shares during the quarter. Alphabet comprises approximately 1.0% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Mutual of America Capital Management LLC’s holdings in Alphabet were worth $95,491,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after acquiring an additional 1,899 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after acquiring an additional 14,931 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Alphabet by 45.1% during the 1st quarter. Synergy Asset Management LLC now owns 1,747 shares of the information services provider’s stock valued at $273,000 after acquiring an additional 543 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its holdings in shares of Alphabet by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 331,452 shares of the information services provider’s stock valued at $51,783,000 after acquiring an additional 1,388 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOOG shares. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research upped their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $310.00 price objective on shares of Alphabet in a research note on Thursday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.26.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $257.02 on Tuesday. The company has a market capitalization of $3.11 trillion, a PE ratio of 27.37, a P/E/G ratio of 1.72 and a beta of 1.00. The company has a 50 day simple moving average of $233.29 and a two-hundred day simple moving average of $194.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.