Maytree Asset Management Ltd Purchases 4,700 Shares of Alphabet Inc. $GOOGL

Maytree Asset Management Ltd raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 123.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,500 shares of the information services provider’s stock after buying an additional 4,700 shares during the quarter. Alphabet comprises about 2.5% of Maytree Asset Management Ltd’s portfolio, making the stock its 7th largest position. Maytree Asset Management Ltd’s holdings in Alphabet were worth $1,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.1%

Shares of NASDAQ GOOGL opened at $278.83 on Friday. The firm has a 50 day moving average price of $251.23 and a two-hundred day moving average price of $204.19. The stock has a market cap of $3.37 trillion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. 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 (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% 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, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. CICC Research lifted their target price on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Susquehanna upped their price objective on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Barclays reaffirmed an “overweight” rating and set a $315.00 target price (up previously from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $304.10.

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.