Alphabet Inc. $GOOGL Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 850,979 shares of the information services provider’s stock after acquiring an additional 6,168 shares during the quarter. Alphabet comprises about 1.4% of New York Life Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. New York Life Investment Management LLC’s holdings in Alphabet were worth $149,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC grew its stake in shares of Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in shares of Alphabet by 4.9% in the 1st quarter. Capital Investment Advisory Services LLC now owns 22,157 shares of the information services provider’s stock worth $3,426,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Alphabet by 1.0% in the 1st quarter. Truist Financial Corp now owns 2,489,717 shares of the information services provider’s stock worth $385,010,000 after purchasing an additional 25,153 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Shares of Alphabet stock opened at $278.83 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. The company has a market cap of $3.37 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $251.23 and a 200 day moving average price of $204.56.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the 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 sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOGL shares. HSBC lifted their price target on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Citigroup reaffirmed a “buy” rating and set a $343.00 target price (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Loop Capital increased their price target on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Finally, BNP Paribas Exane boosted their price objective on Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average 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.