MayTech Global Investments LLC Sells 134 Shares of Alphabet Inc. (NASDAQ:GOOGL)

MayTech Global Investments LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 investment portfolio, 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter worth about $39,000. PayPay Securities Corp boosted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in Alphabet in the fourth quarter valued at about $49,000. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Up 3.7%

NASDAQ:GOOGL opened at $158.46 on Tuesday. The company has a market cap of $1.92 trillion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $158.63 and a two-hundred day simple moving average of $175.22. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the company earned $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Westpark Capital reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Rosenblatt Securities cut their price objective on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

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.