Mccarter Private Wealth Services LLC Has $3.23 Million Stock Position in Alphabet Inc. $GOOGL

Mccarter Private Wealth Services LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,325 shares of the information services provider’s stock after selling 225 shares during the quarter. Alphabet makes up approximately 1.8% of Mccarter Private Wealth Services LLC’s investment portfolio, making the stock its 16th largest position. Mccarter Private Wealth Services LLC’s holdings in Alphabet were worth $3,229,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOGL. Nuveen LLC acquired a new stake in Alphabet during the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi boosted its holdings in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. grew its stake in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,796 shares of company stock worth $53,983,001 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.6%

GOOGL stock opened at $286.71 on Thursday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $292.01. The business has a 50-day simple moving average of $255.49 and a 200 day simple moving average of $207.29. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.46 trillion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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 firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Westpark Capital upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Citizens Jmp boosted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

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.