MayTech Global Investments LLC Has $54.66 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

MayTech Global Investments LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,034 shares of the information services provider’s stock after buying an additional 24,778 shares during the quarter. Alphabet comprises 6.4% of MayTech Global Investments LLC’s portfolio, making the stock its 4th largest position. MayTech Global Investments LLC’s holdings in Alphabet were worth $54,663,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth $5,166,070,000. Raymond James Financial Inc. acquired a new stake in Alphabet during the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. GQG Partners LLC grew its position in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,324 shares of company stock worth $30,153,353. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $159.58 on Tuesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market capitalization of $1.94 trillion, a P/E ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01. The stock has a 50 day moving average of $160.65 and a two-hundred day moving average of $176.97. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Finally, UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet 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.